In a significant move to counter Russian aggression in Ukraine, the European Union (EU) is considering leveraging Russia's frozen assets to bolster support for Ukraine. According to Reuters, EU Commission President Ursula von der Leyen has confirmed the initiation of this strategy, aiming to swiftly procure weapons for Ukraine using assets seized from Russia.

The total value of these Russian assets, spread across various Western countries, amounts to approximately 190 billion euros. The majority of these assets, around 70 percent, are held as bank securities or cash and are stored in Belgium's central securities depository, Euroclear.

The decision comes amidst ongoing delays in US funding to Kiev, attributed in part to congressional inaction amid the Israeli operation in Gaza. As the US support remains stalled, the EU is stepping in to bridge the gap by tapping into frozen Russian assets.

The EU's proactive stance underscores a collective effort to address the urgent need for military and economic assistance to Ukraine amidst escalating tensions with Russia. This initiative highlights a strategic utilization of diplomatic and financial channels to bolster Ukraine's defense capabilities in the face of Russian aggression.