Senators demand that Trump hand over frozen Russian assets to Ukraine

A bipartisan group of U.S. senators has pressed President Donald Trump’s administration to transfer over $300 billion in frozen Russian assets to Ukraine, rather than just their interest, to ramp up pressure on Russia, Reuters reported on Monday, citing a letter to Secretary of State Marco Rubio.

In a letter seen by Reuters, Senators Todd Young (R) and Lindsey Graham (R), alongside Richard Blumenthal (D) and Tim Kaine (D), urged the Trump administration to fully unlock Russia’s frozen assets—estimated at $300-$350 billion—for Ukraine’s benefit, arguing they are a critical tool to force Russia to end its war.

The senators also called on Trump to push European allies to follow suit, amplifying the financial squeeze on Moscow.

The move builds on a 2024 G7 decision under former President Joe Biden to use interest from these assets—frozen after Russia’s 2022 invasion—to fund a no-cost loan for Ukraine.

Ukrainian President Volodymyr Zelenskyy has repeatedly sought the full $300 billion to bolster military capabilities and secure long-term safety, a plea echoed by Prime Minister Denys Shmyhal, who said on March 3, 2025, that Kyiv anticipates an EU decision soon on asset confiscation.

The G7 previously tied unfreezing the assets to Russia compensating Ukraine for war damages.