Meloni denounces Moscow’s tough stance as EU struggles over Ukraine funding

Wednesday 17 - 15:50

By: Dakir Madiha

Meloni denounces Moscow’s tough stance as EU struggles over Ukraine funding

Italy’s Prime Minister Giorgia Meloni has sharply criticized Moscow’s “unreasonable” demands in ongoing peace efforts to end the war in Ukraine. Her remarks, delivered in the Italian parliament ahead of a key European Union summit in Brussels, reflected growing frustration among European leaders as negotiations stall over both the terms of peace and the use of frozen Russian assets to support Kyiv.

Meloni said that while Italy remains committed to finding a legal framework for using the funds seized from Russia’s central bank, the path forward remains “legally complex.” The EU faces mounting pressure to finalize a financial package estimated at nearly €90 billion for Ukraine’s defense and reconstruction, essential to sustain the country’s government and military operations through 2027.

Peace talks face renewed gridlock

Recent talks in Berlin, involving senior US envoys and Ukrainian President Volodymyr Zelenskyy, have failed to bridge key divides. Although American negotiators described the discussions as “constructive,” Russia continues to reject any compromise on territorial issues. Deputy Foreign Minister Sergei Ryabkov reaffirmed Moscow’s claim to five contested regions Crimea, Donetsk, Luhansk, Zaporizhzhia, and Kherson stating that “Russia cannot compromise on this.”

The Kremlin also dismissed appeals for a ceasefire during the holiday period, insisting it seeks not a pause in fighting but the fulfillment of its strategic goals. Spokesperson Dmitry Peskov said Moscow intends to “secure its interests and ensure the objectives of the special operation.”

European divisions over frozen assets

At the heart of the EU summit is a contentious proposal to channel proceeds from roughly €210 billion in immobilized Russian central bank funds, most of which are held by the Belgian clearinghouse Euroclear. European Commission President Ursula von der Leyen told lawmakers that the coming days would be “decisive for Ukraine’s financing.”

However, Belgium has withheld approval, citing potential legal risks if Moscow pursues international arbitration. Russia’s central bank has already initiated a $230 billion lawsuit against Euroclear in a Moscow court. Other member states, including Italy, Bulgaria, Malta, and the Czech Republic, have voiced concerns over liability and legal exposure.

Earlier this week, nine European leaders, Meloni among them, signed a joint commitment to provide long-term security support for Ukraine. The pledge includes potential military, intelligence, and economic assistance in the event of future attacks but stops short of specifying a timeline for Ukraine’s integration into the European Union.