Ireland backs use of frozen Russian assets, EC proposal on reparations loan – PM

Ireland supports using frozen Russian assets to aid Ukraine and backs the European Commission's proposal for a loan to Ukraine secured by those assets, Irish Prime Minister Micheál Martin said.

Regarding immobilized assets, Ireland's position is very clear. The country supports using immobilized assets to finance Ukraine's recovery and to provide financial support to Ukraine. Ireland supports the Commission's proposal for a loan based on these frozen assets for the purpose of financial assistance to Ukraine and reconstruction, he said at a joint press conference with Ukrainian President Volodymyr Zelenskyy in Dublin on Tuesday.

Martin said this stance is rooted, in part, in the belief that there must be deterrence against such behavior in the future, as the aggressor that has inflicted such devastating damage on a country must bear some responsibility.

Secondly, he emphasized the sheer scale and cost of rebuilding Ukraine and the question of who will pay for it. He stressed that it cannot be only European taxpayers, since Europe did not start this war.

He expressed hope that the December meeting will reach a conclusion. Ireland fully respects the concerns of the Belgian government, and these issues must be resolved. This must be a collective agreement across the entire European Union, Martin added.