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Frozen Russia's assets must be put to use immediately, it is not a legal mater but rather a matter of political will, says D. Šakalienė

Republic of Lithuania - Ministry of National Defence

2025-02-25
International cooperation

"The transatlantic bond remains key, while any security guarantees to Ukraine whatsoever will depend on Europe's success in preserving strong relations with the United States and investing in its own defence," underscored Minister of National Defence Dovilė Šakalienė on February 24 at the Yalta European Strategy (YES). She spoke at the panel on "Where Is the War Going?" alongside Minister of Defence of Denmark Troels Lund Poulsen, former UK Prime Minister Boris Johnson, Commander of the Unmanned Systems Forces of Ukraine Col Vadym Sukharevskyi and Senior Research Fellow in security Jade McGlynn.

This is not the time to panic, it is the time to act. A united EU position will strengthen our positions in negotiations, however, our words must be backed with financial commitment. Europe's ability to invest in its own defence, develop defence industry and cooperate with Ukraine in terms of assistance, strengthening Ukraine's defence industry and joint projects will be the deciding factor in how effective our support to Ukraine is, now and in the future," said Minister of National Defence D. Šakalienė.

According to Minister, whatever security guarantees Europe is able to offer Ukraine will depend on Europe's capacity and ability to maintain the transatlantic bond even at times when that is difficult. "Even if our transatlantic family may appear dysfunctional at times, divorce is not an option. We have no replacement for the Americans - and we should not. All the talks about Europe developing its own military capabilities instead of NATO are geopolitically unrealistic. Today, the concrete result and possibility of ceasefire in Ukraine will be decided by our ability to work together on concrete areas," D. Šakalienė underscored.

Minister pointed out that the investment in Ukraine's defence industry has to be conducted according to both "Lithuanian" and "Danish" models, i.e., by "purchasing for Ukraine from Ukraine". Investment in Ukraine's defence industry is not just support to Ukraine and its economy but also investment in development of the European Union's defence.

"We must expand cooperation with Ukraine through joint projects. Ukraine's industry has massive potential to become an important player in the global defence industry. Their defence industry is developing at an unprecedented pace and production capacity is growing quickly and in scale. Their engineers work side by side with the military building on the actual battlefield "here and now" experience. That gives Ukraine a massive technological and manufacturing potential," Minister pointed out.

The panel also addressed the frozen Russian assets. "We have ended up in a ridiculous situation: EUR 300 billion in frozen russian assets are hanging unused because we are not comfortable with using the aggressor's money for rebuilding the violated country. Lithuania has developed an analysis how the assets could be used for Ukraine's reconstruction and for leverage in ceasefire negotiations. We urgently need billions for the reconstruction of Ukraine and strengthening its defence industry - we cannot play any more games with the frozen money. It is not a legal mater but rather a matter of political will, we have to articulate it clearly as the subject of negotiations and a strategic check-and-balance," says D. Šakalienė.

The Yalta European Strategy (YES) is an international annual leaders' conference held in Ukraine since 2004. The event brings together over 350 participants from over 50 countries worldwide, including representatives of the political, business, media, civil society and expert community. Minister of National Defence D. Šakalienė is visiting Ukraine to commemorate the third anniversary of the wide-scale war. Aside from other important work meetings , Minister attends the Nordic-Baltic Heads of State meeting with the Ukrainian leaders to discuss the geopolitical situation in the region and the world, as well as security guarantees for Ukraine.