Von der Leyen calls for using profits on Russian assets to defend Ukraine

Brussels — The European Union should consider using profits from frozen Russian assets to buy military supplies for Ukraine, European Commission president Ursula von der Leyen said on Wednesday.

“It is time to start a conversation about using the windfall profits of frozen Russian assets to jointly purchase military equipment for Ukraine,” she said in a speech to the European parliament, urging the EU to do more on defence policy.

“There could be no stronger symbol and no greater use for that money than to make Ukraine and all of Europe a safer place to live.”

Von der Leyen said the threat of war for the EU “may not be imminent, but it is not impossible”.

The risk of war should be prepared for, starting with the “urgent need to rebuild, replenish, modernise member states’' armed forces”, she said.

Von der Leyen previewed a new European industrial defence strategy that her commission will present in coming weeks, saying one of its main aims would be to prioritise joint procurement.

“Europe should strive to develop and manufacture the next generation of battle-winning operational capabilities,” she said. “That means turbocharging our defence industrial capacity in the next five years.”

She said greater European defence efforts would not diminish the need for the Nato alliance.

“In fact, a more sovereign Europe, in particular on defence, is vital to strengthening Nato,” she said.

Reuters