In his intervention in the European Parliament plenary session, MEP Victor Negrescu emphasized the critical importance of unity between Europe and the United States in supporting Ukraine’s independence in the face of Russian aggression. While acknowledging the recent support pledged by both sides of the Atlantic, Negrescu highlighted the significance of frozen assets as a key measure in bolstering Ukraine’s defenses and safeguarding the Eastern flank against Russian encroachment.

Negrescu revealed that the European Union has imposed restrictive measures on approximately 2,000 individuals and entities, collectively freezing 21 billion euros worth of assets within the EU. Furthermore, he pointed out that more than 300 billion euros of assets from the Central Bank of Russia remain blocked in G7 and EU countries. However, despite these substantial measures, Russian oligarchs and entities continue to evade the imposed restrictions, necessitating further action to ensure their effective enforcement across Europe, particularly targeting those engaged in business with Russia.

The MEP stressed the urgent need to fully leverage these frozen assets to support Ukraine’s protection and reconstruction efforts, compensate victims of the conflict, and assist frontline countries impacted by the ongoing war. Negrescu emphasized that those responsible for instigating and perpetuating the conflict must bear the financial burden of their actions, and it is imperative for legislators to expedite this process.

As legislators, Negrescu asserted, it is incumbent upon them to ensure that the costs of the war are borne by its perpetrators and that justice is served swiftly and effectively. By utilizing frozen assets to their fullest extent, Europe can not only bolster Ukraine’s resilience but also send a strong message of accountability to those who seek to undermine peace and stability in the region.