Bennet Leads Bipartisan Colleagues in Support of European Plans to Leverage Russian Sovereign Assets for Ukraine

Dec 18, 2025| Press Releases

Washington, D.C. - Colorado U.S. Senator Michael Bennet, a member of the Senate Select Committee on Intelligence, led a bipartisan letter to Belgian Ambassador to the U.S. Frédéric Bernard expressing support for European Commission efforts to leverage Russian sovereign assets to finance a loan for Ukraine.

"As Russian President Vladimir Putin continues to wage his unjust and unprovoked war against Ukraine - all while carrying out a variety of hybrid attacks against Europe and the United States - we write to express our support for European Commission (EC) proposals to raise up to $244 billion via leveraged frozen Russian sovereign assets to provide a loan to Ukraine, which Kyiv will repay only if Moscow pays reparations after the war," said the Senators.

The Senators emphasized the importance of moving quickly to leverage Russian sovereign assets to enable Ukraine's purchase of essential defense systems and alleviate looming fiscal challenges.

"Putin will not stop if he wins in Ukraine but will continue testing NATO's resolve, posing risks to our collective security. Providing additional financial support is of paramount importance for the sake of Ukraine, for a Europe that is whole and free, and one day at peace - and for the defense of democracy everywhere," concluded the Senators.

U.S. Senators Dick Durbin (D-Ill.), John Kennedy (R-La.), Amy Klobuchar (D-Minn.), Adam Schiff (D-Calif.), Peter Welch (D-Vt.), and Sheldon Whitehouse (D-R.I.) also signed the letter.

The text of the letter is available HERE and below.

Dear Ambassador Bernard:

As Russian President Vladimir Putin continues to wage his unjust and unprovoked war against Ukraine - all while carrying out a variety of hybrid attacks against Europe and the United States - we write to express our support for European Commission (EC) proposals to raise up to $244 billion via leveraged frozen Russian sovereign assets to provide a loan to Ukraine, which Kyiv will repay only if Moscow pays reparations after the war.

European Union (EU) officials have negotiated an approach that seeks to minimize any potential legal risks to Belgium.2 It could strongly benefit Ukraine and trans-Atlantic security if your government and EC leadership can expeditiously find a mutually acceptable agreement.

In 2024, Congress passed the Rebuilding Economic Prosperity and Opportunity for Ukrainians Act as part of the national security supplemental (P.L. 118-50), which authorized the President to seize Russian sovereign assets in the United States. Some of us recently introduced legislation, building upon that law, to start repurposing these assets to support Ukraine.

Leveraging these assets could enable Ukraine to purchase critical defensive systems, including through the Prioritized Ukraine Requirements List (PURL) initiative, and help Ukraine manage a looming fiscal shortfall - potentially unlocking a finalized International Monetary Fund (IMF) program crucial to sustaining the Ukrainian government's basic functions.

Putin will not stop if he wins in Ukraine but will continue testing NATO's resolve, posing risks to our collective security. Providing additional financial support is of paramount importance for the sake of Ukraine, for a Europe that is whole and free, and one day at peace - and for the defense of democracy everywhere.