Thank you so much, dear António, dear Ursula,
Dear leaders,
I’m grateful to you for your attention to Ukraine and for the support that has helped us save so many lives since 2022. We have all come a long way – and yes, there were many, many, really many challenges and moments of doubt. But the fact remains – Europe achieved a lot, and Putin didn't break Ukraine, and he didn't make Europe look like a loser.
And in fact, on every major issue where Europe stood up to protect itself, its way of life, and Ukraine – Europe turned out to be right, and it delivered real results. Russia has lost – in literally everything it tried to use to threaten or break us, break Europe.
And Europe has demilitarized Russia’s gas weapon – the continent no longer lets Moscow manipulate it with energy. And this is a historic achievement to my mind– something that just a few years ago seemed almost impossible. Russia hoped that Europe’s defense support for Ukraine and the growth of Europe’s defense industry would collapse – but that didn't happen either. Russia cheered and hoped for Europe’s political downfall when the American Administration changed – but again, Russia failed. The EU’s leadership and many, many national leaders did what was needed to protect Europe’s interests. And Europe has learned how to neutralize the toxic political forces that Moscow funded for years to divide and weaken the EU. And yes, Russian hate propaganda is still out there, especially on social media. But it hasn’t broken the most important network that holds Europe together – the network of solidarity. A solidarity that lives not just in official institutions or among leaders, but in people’s hearts.
The vast majority of Europeans still see Russia as the only one to blame for this war. And sure, some people in Europe still enjoy flying to Moscow. But let’s be honest, most Europeans understand this – selling out moral values and European interests in Moscow will never become the European mainstream. It will always be the business of outsiders – not of real leaders.
Dear friends,
If we’ve all achieved so much, then how can the European Union break now? And how can Russia be the one to win?
The decision now on your table – the decision to fully use Russian assets to defend against Russian aggression – is one of the clearest and most morally justified decisions that could ever be made. This decision reflects everything we have been saying, thinking, and – most importantly – feeling about this war for years. Not just us, but hundreds of millions of Europeans. And no one will ever be able to explain to them or to the people living in Ukrainian towns and our Ukrainian villages destroyed by Russian bombs and assaults why it would somehow be wrong to use Russian money to rebuild those homes. No one will ever be able to explain to a Ukrainian child whose parents were killed in this war that the aggressor is not to blame and should face no consequences. Not even Viktor’s best speeches and videos could convince that child that Putin is innocent. No one will ever be able to explain to European voters why Europe should give 200 billion euros back to Putin – after everything he’s destroyed, and after all the hard choices Europe had to make because of his war.
Just like authorities confiscate money from drug traffickers and take weapons away from terrorists, Russia’s assets must be used to defend against Russian aggression and to build what was destroyed, exactly, destroyed by Russian attacks. It’s moral. It’s fair. And it’s legal – confirmed by the expertise of many, many professionals.
It must be Europe that makes this decision, not someone out there – pressuring Europe or trying once again to sell out European interests in Moscow. And if – or when – this decision is made to fully use Russian assets to defend against Russian aggression, then, like other strong decisions Europe has made before, it will become clear to everyone over time – this was the right choice, and it made Europe stronger.
I want to be very clear – if the war doesn’t end through diplomacy in the near future, and Russia keeps showing that it wants to keep fighting and attack even more next year, we will use these funds mostly for weapons. It’s understandable. And a big part of that will be spent on European weapons – which means this money will support your industries. And of course, most of these funds should work for Europe – for European and Ukrainian weapon industry. But we also need to stay flexible and be able to buy what Europe doesn’t produce yet. It’s a pity, but it’s a fact. That includes weapons from the United States, like air defense missiles and other systems – including through the PURL. And this is also a sign that America remains part of the process. And I know, I really know, dear leaders, that not everyone likes PURL program. But how else are we supposed to get through this winter? We need missiles for Patriot systems.
And if, on the other hand, diplomacy does succeed and Russia starts taking real steps to end the war, then the frozen Russian assets should be used for recovery after the aggression. And again, it’s fair that Russia pays the price for what it has destroyed. That, too, means money for European companies – the ones that will help rebuild.
So if these funds can serve European security – by holding the aggressor accountable for its war against Ukraine and against Europe – then why would we leave Moscow with any hope or confidence that the money will still come back, no matter what it has done? And we must look at Putin and his decisions with complete clarity. He can keep this war going only as long as he has huge amounts of money – to send more people to the front and to buy equipment abroad. We know Putin can’t keep attacking and keep social stability in Russia at the same time, and he doesn’t have enough money for both. And we already see signs of this – Russia has started cutting war expenses. And they even reduced the payments for those they send to die. That clearly proves one thing – Moscow should not be getting any good signals about this money. Anything else would be a mistake in policy. And let’s not give Putin hope – hope that he can fight for another year or two, and then Europe will reward him for it by giving back 200 billion euros. And if someone wants to invest in more Russian aggression – they should say it openly, not hide behind excuses.
And I know that Russia is intimidating different countries over this decision. But we should not be afraid of these threats – we should be afraid of Europe being weak.
Dear leaders,
One more question.
How can anyone truly believe in future security guarantees – the ones we’re discussing a lot, and the ones written into Euro-Atlantic documents – if Europe can’t deliver this one very important decision: a financial security guarantee for Ukraine, in a situation that is morally crystal clear and completely just?
And if there is no European decision now, then all the words we’ve heard for years – about our European solidarity, autonomy, and Europe’s ability to defend justice globally – will be meaningless. If this isn't done now, the Russians – and not only them – will feel that Europe can be defeated. Defeat – that’s definitely not what Europeans need. Your people need Europe to protect its own resources and stay at the center of global processes. Your people need Europe not to back down in front of aggressors. And Europe is – and will always be – the most important and most powerful democratic space in the world, and one of the strongest forces in the world standing for peace. No reward for the aggressor – that is the key principle of peace. And that is exactly what needs to be proven now. The European Commission’s proposal for a Reparation Loan offers a smart and fair approach. And it should become a strong contribution from the EU to strengthening Ukraine’s position at the negotiating table.
If we know – and if Putin knows – that we can stay resilient for at least a few more years, then his reason to drag out this war becomes much weaker. And this is exactly how pressure on the aggressor should work – pressure that brings peace.
The aggressor must pay for what was done. Thank you for your support.
