Source: Foundation for Economic Education
by Mark Nayler
“When Russia invaded Ukraine in February 2022, $300 billion of Russian assets held in foreign countries were immediately frozen, the majority of which (about $200 billion) are within Europe. So far, despite pressure from the US, EU leaders have been reluctant to channel these funds into Ukraine’s defense and reconstruction, the latter of which is expected to cost $520 billion. Now that Donald Trump has turned his back on Ukraine, the idea of putting these frozen assets to work is being discussed more seriously—and there are good reasons for Europe to adopt a hawkish stance, as the US has done.” (05/11/25)