Ukraine’s Ministry of Finance reported that Finance Minister Sergii Marchenko met European Central Bank President Christine Lagarde in Kyiv to discuss Ukraine’s financial integration with the European Union, continued support for financial stability during the war, and options to use frozen Russian central bank assets for Ukraine’s benefit. The talks covered the confiscation of frozen Russian central bank assets and the legal and financial mechanisms for moving from the use of revenues to practical solutions for using the full stock of immobilised assets. Marchenko referenced the EU’s ERA mechanism, which enables revenues from frozen Russian assets to be used for Ukraine’s needs, and cited official EU data putting immobilised Russian central bank assets in the EU at EUR 210 billion.
Ministry of Finance (Ukraine) 2025-06-19
Ukraine’s Ministry of Finance and the European Central Bank discuss EU financial integration and potential use of frozen Russian central bank assets
Ukraine’s Ministry of Finance announced that Finance Minister Sergii Marchenko met with European Central Bank President Christine Lagarde in Kyiv to discuss Ukraine's financial integration with the EU and the use of frozen Russian central bank assets. Discussions included legal and financial mechanisms for utilizing the full stock of immobilized assets, with EU data indicating EUR 210 billion in frozen Russian assets.