On October 21, leaders of European countries, including the UK, France, Germany and several other members of the European Union (EU), issued a joint statement, expressing their support for Ukraine and US President Donald Trump's efforts to end the conflict there.
We fully support President Trumps stance that the fighting must stop immediately and that the current route should be considered the starting point for negotiations, the statement released by the UK government stated.
We need to increase pressure on the Russian economy and defense industry until President Vladimir Putin is ready for peace. We are developing measures to take full advantage of the value of frozen Russian state assets so that Ukraine has the necessary resources, the UK government added.
On the same day, a British source revealed that the EU's permanent representatives had coordinated to agree on a decision to use the frozen Russian assets to secure a "compensation loan" for Ukraine.
The relevant proposal could be made after the European Council (EC) meeting on October 23.
A Belgian diplomat said that this is a "political first step" for the EC to draft specific legal proposals on the use of Russian assets, while affirming that Brussels will not hinder the decision at the upcoming meeting of EU leaders.
Belgium has opposed the seizure of frozen Russian assets, as it is home to Euroclear, the organization that holds the majority of those assets. Accordingly, Brussels also raised concerns that it may have to pay for itself if a lawsuit arises.
Previously, on October 20, President Trump called on Russia and Ukraine to "freeze" the current border in Donbass, because according to him, Moscow has effectively controlled almost the entire area.
We think what they should do is stop at the existing borders. The rest is difficult to negotiate, Trump told reporters on Air Force One, calling on both sides to stall now and end it all.
When asked about the situation in Donbass, Mr. Trump replied: "Just let it be as it is. I think about 78% of the territory is in Russia. Just leave it there. They can negotiate more later".
