In Frankfurt, Germany, uncertainties over U.S. support for Ukraine have led European nations to consider taking action on $300 billion worth of frozen Russian assets. These funds could be used to compensate Ukraine, bolster its military, and aid in the reconstruction of devastated areas.

At present, the assets remain frozen, as opponents of seizing them raise concerns about potential violations of international laws and the destabilization of financial markets.

The frozen assets, originally in short-term government bonds held as reserves by the Russian central bank, have since matured into cash and are being held in custodian banks. The bulk of the assets, totaling 210 billion euros, are located in European Union member states, with a significant portion held at Euroclear, a Belgian financial institution. Additional amounts are situated in financial entities in countries such as Great Britain, Japan, France, Canada, Switzerland, Australia, and Singapore.

While the G7 nations have utilized interest generated by the frozen cash to provide upfront assistance of $50 billion to Ukraine, some countries like Poland, the United Kingdom, Lithuania, Latvia, and Estonia advocate for seizing the principal amount to address the substantial damages caused by Russia’s actions. The World Bank estimates that Ukraine's reconstruction could cost $524 billion over a decade, surpassing the total value of the frozen assets. Despite opposition from countries like France, Germany, and Belgium due to concerns about violating international laws and financial stability, some European allies are considering increasing financial aid in response to the shifting stance of the U.S. on European security responsibilities.