As Russian aerial incursions continue across European airspace — from Poland and Norway to Lithuania — European Union leaders will meet on Thursday to hash out a plan on how to use €210 billion in frozen Russian Central Bank assets held in Europe to support Ukraine.
The crucial European Council summit comes as a ceasefire remains elusive in Russia's nearly four-year-long war of aggression in Ukraine, and as EU countries grapple with mounting budget strains. Taken together, the question is no longer whether to use these assets, but rather how.
Most of the conversation so far has centred on using the funds to meet Ukraine's immediate military and fiscal needs, with little discussion about their potential role in longer-term recovery and justice.
Given European leaders have agreed to indefinitely immobilise Russian assets held in Europe, it is critical that they consider how this capital can also support reparations and recovery, particularly for Ukraine's women and girls.
Failing to allocate a portion of the funds for civilian recovery risks compounding suffering and allowing Russia to evade accountability for the immense human and material losses it has caused.
Including the Council of Europe's Register of Damage
A concrete step forward would be to channel a portion of frozen assets to the Council of Europe's Register of Damage Caused by the Aggression of the Russian Federation Against Ukraine (RD4U) — the first international mechanism to document and recognise claims for losses, injuries and damages caused directly by Russia's war.
Established in May 2023 under the Council of Europe and headquartered in The Hague, the RD4U serves as the official repository for claims submitted by individuals, businesses and the state arising from Russian aggression.
It represents the first step toward a comprehensive reparations system, with a compensation commission and payment mechanism currently under development. The claims categories are broad and inclusive, covering both material and human losses — such as sexual violence, torture and forced labour — and are open to individuals, companies and public entities. The reparations framework is designed to be adaptable and responsive to the full range of harms experienced.
At the moment, the reparations mechanism is a technically sound framework designed by leading experts and supported by both the Ukrainian government and civil society.
And, most importantly, even the European Council has endorsed the project. By joining as a full participant and committing annual financial support, the Council has, in fact, demonstrated strong political backing and a clear commitment to RD4U's governance.
Technically, the foundations are already in place for RD4U to evolve from a documentation mechanism into an effective vehicle for compensation, which would be a first of its kind developed during wartime.
What will matter most in the coming months is sustained political determination from member states to resolve disagreements around financing modalities and ratification of the compensation instrument.
A long-term approach to support Ukrainians
More than 1,300 days into Russia’s full-scale war of aggression against Ukraine, Europe's debate over how to handle the €200 billion-plus in frozen Russian central bank assets has remained confined to channelling windfall profits as loans to Kyiv.
Up until now, European leaders have discussed using the funds as a large loan — over $160 billion — to Ukraine to primarily cover weapons purchases and government expenditures, raising questions about which governments would assume responsibility for the loan and how reparations for Ukrainians would ultimately be funded.
While channelling frozen funds into Ukraine's defence and fiscal support is necessary — especially as US backing for Ukraine becomes more uncertain — it remains imperative to earmark some of these resources for a dedicated financial mechanism linked to the RD4U.
This approach would ensure the funds go directly toward reparations and justice for the victims of Russia's aggression — a goal both legally defensible and morally undeniable. Beyond supporting Ukraine's broader recovery, this approach could have a transformative impact on ordinary citizens, especially women and girls, by addressing the human toll of war, countering impunity and fostering empowerment, protection and long-term resilience.
According to the Board of the RD4U, over 85,000 claims have been submitted across the 14 claims categories currently open for filing, including, among others, cases related to deceased and missing family members, internal displacement, damage, destruction and inability to access non-residential immovable properties.
At least 30,000 of these claims have already been processed by the Board and recorded in the Register, with more to come. As Norbert Wühler, a board member of the RD4U, explained to us, at the beginning of next year the first categories for businesses and the Ukrainian public sector will be opened.
The RD4U's scope continues to expand, with recently added categories recognising loss of housing and forcible transfers and deportations. Since March 2025, survivors of Russian violations can submit their claims directly to the RD4U, marking a key step toward a survivor-centred model of justice and recovery.
Russian frozen assets as aid for Ukraine
Redirecting part of the principal amount of the frozen funds to the RD4U would require coordinated political action by the EU, G7 countries and national legislation in asset-holding states, along with an agreed legal framework linking the proceeds to reparations.
Such action is legally defensible. Scholars have argued that third-party states holding frozen Russian central bank assets can justify their allocation to reparations as a countermeasure. Countermeasures are legal acts taken to compel compliance with the law. Russia's failure to pay reparations, in this case, would violate its duty to compensate Ukraine and thus justify states to take countermeasures against Russia.
In the unlikely event that Russia has to pay full reparations to Ukraine voluntarily, it has been suggested that frozen assets could be credited as a down payment towards Russia’s obligation and circumvent a requirement that countermeasures be reversible. The projected cost of total damages to Ukraine, estimated at more than $524 billion in recovery over the next decade, far exceeds the amount of frozen Russian assets.
Directing funds to reparations would uniquely benefit Ukrainian women and girls.
Using a collective measure, such as the RD4U, would in fact prevent victims from having to publicly identify themselves or endure a lengthy and invasive trial to receive support.
Moreover, fully funding the RD4U would help ensure equitable recovery, preventing women’s needs — historically underfunded, with only 1% of aid supporting gender equality in Ukraine since 2022 — from being sidelined.
Finally, the central bank assets are likely the only viable means to hold Russia accountable for its compensation obligations, as traditional routes for wartime reparations, such as United Nations mandates, adjudication, total defeat or consent, are blocked by Moscow's resistance and veto power. Individual lawsuits to access reparations would also be too limited in scope and would place an undue burden on individuals, particularly women and girls.
Directing Russian foreign assets into the RD4U is the right — and smart — thing to do, as it would help Europe protect frozen assets from political volatility within the EU.
Furthermore, leveraging frozen assets is more viable than other proposed ways to fund Ukraine, particularly joint EU borrowing or imposing future costs on European taxpayers.
The assets are there, the victims' claims are being registered, and the legal architecture is emerging. What is needed now is the political resolve to connect these dots — turning frozen Russian wealth into a direct instrument for compensating those who have suffered the most from its war of aggression.
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