By John Q. Hosedrinker 
Russia’s Security Council chief warned that the European Union’s potential use of frozen Russian assets to support Ukraine could be interpreted as a justification for war. The European Commission has proposed a “Reparations Loan” for Ukraine, utilizing the cash from frozen Russian Central Bank assets held by European financial institutions, aiming to unlock approximately $105 billion. This proposal comes as a response to Russia’s continued lack of commitment to a sustainable peace, which has created a strain on Ukraine’s resources. Some EU members, particularly Belgium and Hungary, have raised concerns about the legal and financial implications of such a move, potentially creating barriers to implementation.
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Europe’s plan to use $105 billion of frozen Russian assets is, according to Russia’s Medvedev, “tantamount to war,” a phrase that, frankly, seems to be losing its punch. It’s becoming increasingly difficult to take this particular pronouncement seriously, considering the context of Russia’s actions over the past couple of years. The mere idea of the EU looking at Russia the wrong way, suddenly, being “tantamount to war” feels more like a daily routine from a broken record.
The simple fact is that Russia’s actions, particularly its invasion of Ukraine, are the actual definition of war. So, while freezing assets might be considered a significant economic move, it hardly registers on the same scale as the active, physical conflict Russia has initiated. It is difficult to see how simply using these assets could be equated to the bloodshed, destruction, and human suffering that Russia has inflicted.
It seems like there’s a certain absurdity to the idea of Russia complaining about its assets being used when it has already initiated an armed conflict. It raises questions such as, “Are we already at war, Mr. Medvedev?” considering the invasion of Ukraine and the ongoing military operations. This, in turn, makes the threat of further conflict feel less impactful and more like another tired warning from a regime known for its aggressive rhetoric.
Frankly, it’s becoming more and more difficult to care. This has been said frequently and with little to no consequences. Maybe Russia shouldn’t start wars in Europe if they want to avoid such things? If a country is not invading its neighbors, committing war crimes, and otherwise acting like a warmonger, then the idea of sanctions and asset freezes feels less like an act of war.
One thing is for sure: it is really difficult to take seriously, when the same person has a habit of issuing all sorts of wild claims. There have been nuclear threats over every disagreement, and it seems this is just more of the same. The credibility of such statements is understandably diminished.
If Russia truly believes that Europe using frozen assets is a declaration of war, it only underscores the hypocrisy of its own actions. What about Russia’s war? What about the actual war in Ukraine? What about the ongoing war in Europe? It’s not a good look, and it certainly doesn’t help anyone take the threats more seriously.
Of course, given the current geopolitical landscape and the numerous conflicts around the world, there are legitimate concerns about how different world powers will act. The United States’ response, in particular, could have a ripple effect. Will they support their allies, or will they give Russia a pass? The answer remains unclear, and a strong response is very much needed right now.
The plan to use these frozen assets is a way to hold Russia accountable for its actions in Ukraine. It’s a way to try to offset the damage. It is a way to fund Ukraine’s war of defense, but also a way to send a clear message: there will be consequences for violating international law and for engaging in unprovoked aggression.
It’s a way for European nations to stand up to Russian aggression, and they are, as they should be, fully within their rights to do so. In the current global climate, it’s about time Europe did more and the assets would be much safer than in Russian banks. It is time.