In a press conference held in Venice, Ukraine's Justice Minister Denys Maliuska voiced his dissatisfaction with the EU's plan to allocate the yearly package of €3 billion raised from profits on frozen Russian assets to Ukraine's war needs. Maliuska highlighted that in the context of the ongoing conflict with Russia, this amount is "almost nothing."

The European Union recently approved a proposal to utilize the investment returns from frozen Russian assets, estimated to be between €2.5 billion and €3 billion per year, to purchase weapons for Ukraine. However, Maliuska argued that these funds fall significantly short of meeting Ukraine's urgent requirements in terms of ammunition and other necessities for the war effort. He contended, "If we are talking about the needs of Ukraine and the needs of the war, military and non-military, €3 billion is actually almost nothing - we need hundreds of billions in order to win the war."

Since the full-scale invasion of Ukraine by Russia in February 2022, the European Union has immobilized over €200 billion of Russian state assets to support Kyiv's reconstruction efforts. Despite this, Maliuska expressed the Ukrainian government's desire for full confiscation of the frozen Russian assets. He firmly believes that this approach is not only legal but also crucial for a decisive resolution of the war with Russia.

Moreover, the EU leaders had previously agreed on an additional €50 billion support package for Ukraine within the bloc's budget. This allocation was seen as a commitment to providing steadfast, long-term, and predictable funding for Ukraine. However, Maliuska's remarks indicate that the country is in need of much larger financial assistance to confront the ongoing crisis effectively.

The conflict between Ukraine and Russia has caused immense suffering and devastation. As Ukraine struggles to combat shortages of essential supplies and equipment, the Justice Minister's statement underscores the urgency to secure more significant financial aid and international support.

The EU's decision to allocate the profits from frozen Russian assets as a means of assisting Ukraine's war effort demonstrates the bloc's commitment to standing with Kyiv. However, it also highlights the complex challenges and immense financial requirements that Ukraine faces in its battle against Russia.

As the situation develops, Ukraine will continue to advocate for increased financial assistance and a robust international response to bring an end to the conflict that has plagued its territory for years.