Japan denies rejecting EU plan to use frozen Russian assets for Ukraine
Reports had suggested that Finance Minister Satsuki Katayama “ruled out” using approximately $30 billion of Russian funds held in Japan to back a so-called “reparations loan” for Kiev.
“It’s completely false,” Vice Finance Minister for International Affairs Atsushi Mimura told reporters on Tuesday, stressing that “Minister Katayama never made such a comment” and that Japan is actively preparing specific steps to support Ukraine.
The report emerged after European Commission officials urged EU members to choose between a major borrowing initiative or a long-discussed “reparations loan” using frozen Russian assets to finance Ukraine with roughly €90 billion ($104 billion) over 2026-2027. Most of Moscow’s immobilized reserves, around €185 billion ($205.35 billion), are held at Belgium’s Euroclear, which has expressed legal concerns over using the funds.
With Ukraine’s budget shortfall expected to reach $48 billion next year, EU officials reportedly continue to press for accessing the frozen assets. Russia has condemned such moves as theft and warned of retaliation. A Kremlin spokesperson acknowledged that releasing the funds could temporarily support Ukraine’s military operations, saying the money “would, in principle, be enough for them to expend Ukrainians like bullets for a couple more years.”
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