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Jul 18, 2025  |  
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Joe Barnes


Frozen Russian assets ‘to pay for Trump’s Ukraine weapon fund’

Europe is exploring using frozen Russian assets to pay for Donald Trump’s $10 billion (£7.4 billion) weapons package for Ukraine, the Telegraph can disclose. 

Under the plan, profits generated from almost €200 billion (£173 billion) of Russian Central Bank assets seized by the European Union could be used as part of the bloc’s contribution to the new war chest.

The potential move formed the first formal discussion among European governments after Mr Trump announced a deal to arm Ukraine with weapons and air defence systems via Nato.

Diplomatic sources told The Telegraph that EU foreign ministers asked how Mr Trump’s plan would work during a meeting in Brussels on Tuesday. Wider details had yet to be shared with European capitals, one source said.

Mark Rutte, Nato’s secretary-general, said the deal would involve Nato buying American air defence systems, missiles and other ammunition before handing them to Kyiv.

He said at least eight member states had signed up to the scheme as he announced it alongside the US president in the Oval Office on Monday.

A Nato official said: “It is widely considered that Nato’s support mission for Ukraine – Nsatu – will play the lead role in coordinating purchases of American weapons and their eventual delivery to Kyiv.”

Ministers and officials said it would be more logical for Nato to oversee the scheme than one of its member states because of concerns over transparency.