President Zelensky reportedly proposed this plan to the then US President-elect during a phone call.
Ukrainian President Volodymyr Zelensky revealed that he proposed to then US President-elect Donald Trump that frozen Russian assets be used to fund Ukraine’s purchase of US weapons. This, Zelensky argued, would serve as a security guarantee in potential peace negotiations with Russia.
Approximately $300 billion in Russian central bank assets were frozen by the West following the escalation of the Russia-Ukraine conflict in February 2022, with over two-thirds held within the EU.
During a three-hour interview with Lex Fridman, Zelensky stated that Ukraine desires peace but requires long-term security guarantees extending beyond a four-year presidential term.
He indicated that this proposal was discussed with Trump during a November phone call shortly after the US election.
Zelensky emphasized the significant funding needs for the military industries in Ukraine, Europe, and elsewhere, including India, Saudi Arabia, and the US, throughout Trump’s potential term.
“The question is the funding source,” Zelensky explained. “My suggestion to Trump was to utilize the $300 billion in frozen Russian assets. We would use these funds for domestic production and to purchase US weaponry,” he said.
Zelensky argued that such a deal “would greatly benefit the US industry,” as the funds would directly support US weapon sales. “It’s Russian money, not Ukrainian or European…They should bear the cost… This is a crucial security guarantee,” he clarified.
Last month, Slovak Prime Minister Robert Fico alleged that Zelensky attempted to bribe him with €500 million from frozen Russian assets to secure Slovakia’s support for Ukraine’s NATO bid.
Fico claimed this offer was intended to mitigate Slovakia’s concerns, particularly its reliance on Russian energy, following Ukraine’s decision to end a gas transit agreement with Russia. The Slovak Prime Minister dismissed the proposal as “absurd.”
Russian officials have consistently maintained that seizing these assets would constitute theft and severely damage global confidence in the Western financial system. Moscow has warned of potential retaliatory measures should such actions be taken by the US and EU.