The Renew Europe Group is urging the immediate use of frozen Russian assets to bolster financial and military support for Ukraine.
With over €180 billion in Russian assets frozen across the European Union, Renew Europe is pushing for an innovative "reparations loan" mechanism that would use these funds as collateral to provide Ukraine with urgently needed resources. This approach, compatible with international law, would constitute an advance payment on Russia's future reparations obligations while maintaining financial stability across the Union.
Petras Auštrevičius (Liberalų sąjūdis, Lithuania), Renew Europe spokesperson for Ukraine, emphasized the existential stakes for the continent:
"While Russia continues to demand Ukrainian capitulation as a condition for any negotiations, we must do everything we can to ensure that President Zelensky's peace plan is not dismissed and that the 'rule of the strong' is not imposed again. Europe must play a full role in the peace negotiations because the outcome of this war will determine the future of Europe and its security architecture."
Petras AuštrevičiusRenew Europe MEP, Lithuania, Liberalų Sąjūdis
To translate this political commitment into concrete action, the EU must rapidly adopt a reparation loan as proposed by Renew Europe in its Estonia Declaration on 29 September.
Hilde Vautmans (Open-VLD, Belgium), Renew Europe coordinator for the Foreign Affairs committee, outlined the logic behind this proposal:
"Europe must step up its support for Ukraine to endure this war and ultimately win the war. Using frozen Russian assets as collateral for a joint European loan is the most responsible solution to achieve this goal. It allows us to help Ukraine in a sustainable way, while preserving the financial stability across our Union. In the end, our greatest strength in facing Russia's aggression has always been our European solidarity and unity and that must remain the foundation of our support."
Hilde VautmansRenew Europe MEP, Belgium, Open Vlaamse Liberalen en Democraten
The urgency of this initiative has intensified as Ukraine faces mounting fiscal challenges and uncertainty about continued American support under President Trump's unpredictable foreign policy stance. Renew Europe members stress that any peace process must respect fundamental principles of international law and territorial integrity.
Europe, as Ukraine's principal ally, has special responsibilities. Any discussions about Ukraine's future must include Ukraine itself and its European partners – not be dictated by Moscow or Washington. The temptation to push Ukraine toward territorial compromises or a constrained peace deal that would reward Russian aggression is unacceptable.
Nathalie Loiseau (Horizons, France) Renew Europe coordinator for the Security and Defence committee, stressed Europe's obligation to take concrete action:
"Preparing seriously for peace in Ukraine does not mean parading in Budapest with Vladimir Putin, who does not want it. It means making Russia pay now for the war it started, by using its assets to advance Ukraine the reparations to which it is entitled. With or without Donald Trump, it means showing that Europe knows how to act and take its responsibilities."
Nathalie LoiseauRenew Europe MEP, France, Horizons
While discussions of a Putin-Trump summit in Budapest have been shelved, the prospect had already revealed dangerous fault lines within Europe that demand vigilance.
Marie-Agnes Strack-Zimmermann (FDP, Germany), chair of the Security and Defence committee, condemned firmly such diplomatic overtures:
"A Putin summit in Budapest is a slap in the face of Europe. Orbán is moving ever further away from our shared values. Instead of flattering a war criminal, Europe must finally use the frozen Russian assets to support Ukraine and its freedom."
Marie-Agnes Strack-ZimmermannRenew Europe MEP, Germany, Freie Demokratische Partei
There can be no settlement imposed without Ukraine's consent, no negotiations that bypass European interests, and no capitulation to Vladimir Putin's conditions. Only a just and lasting peace, achieved on Ukraine's terms with full European backing, can guarantee long-term security and stability for the continent.