Spain Proposes Using Frozen Russian Assets for European Defense, Sparking Debate
To address Europe’s underfunded defense sector and support Ukraine, Spain proposed a new defense fund. This fund would utilize grants, sourced from member state contributions, EU debt, the European Stability Mechanism, and potentially a portion of frozen Russian Central Bank assets. The initiative aims to bolster Eastern European defense capabilities and strengthen overall European security, a proposal met with cautious optimism from other EU members. This targeted mechanism would provide non-repayable aid, unlike previous loan-based proposals.
John Q. Hosedrinker