Trump Wants to Unfreeze Russian Assets and Put Them Under US Control

The Trump administration has proposed that European countries unfreeze a portion of Russia's sovereign assets and place them under a US-controlled financial vehicle, according to a Financial Times report. The stated goal is to revive stalled peace negotiations over the war in Ukraine.

The proposal was presented during diplomatic consultations, but European delegates flatly rejected it. Critics warned that releasing Russian assets could undermine the economic leverage Western nations have maintained against Moscow since the full-scale invasion began in February 2022.

Russia currently has approximately $300 billion in sovereign assets frozen by Western financial institutions. The European Union and the G7 have been channeling income from these assets into aid packages for Kyiv.

The move signals a shift in Washington's approach, with the White House showing greater willingness to explore direct negotiations with Russia even at the cost of reducing economic pressure on Moscow. European officials reacted with concern, with several governments alarmed at the prospect of any deal giving Russia access to currently frozen funds.