The U.S. is urging Europe to seize frozen Russian assets and use them as leverage in peace negotiations.

The Biden administration is actively persuading European allies to confiscate 300 billion euros of frozen Russian assets.

The assets, primarily held in European banks, belong to the Central Bank of Russia and have been frozen since the onset of the invasion of Ukraine. The proposal aims to use these funds as leverage to pressure Moscow in peace negotiations with Ukraine.

According to CNN, U.S. officials are suggesting transferring the assets to a special deposit account, which would remain inaccessible to Russia until a peace agreement is reached. The administration views this strategy as a way to send a clear message to the Kremlin: to regain the funds, Russia must engage in meaningful dialogue.

The Biden administration has consulted with advisors to newly elected President Donald Trump, including Senator Marco Rubio, a candidate for Secretary of State, and future National Security Advisor Mike Waltz.

Sources indicate that Trump’s team supports the strategy if it can help end the war. Trump himself has expressed interest in accelerating the resolution of the conflict.

Despite U.S. efforts, European leaders remain cautious about the proposal, citing potential violations of international law.

Senior U.S. officials acknowledge that reaching a European agreement during Biden's tenure is unlikely.

Reportedly, Friedrich Merz, leader of Germany's CDU and candidate for Chancellor, is open to discussing the confiscation of assets, although his position will only be clarified after the German elections at the end of February.

President Biden intended to discuss this proposal with the leaders of Italy and Ukrainian President Volodymyr Zelensky during a planned meeting in Rome. However, this meeting was canceled due to extensive wildfires in Los Angeles.

Secretary of State Antony Blinken emphasized that the current administration aims to ensure a smooth transition of this strategy to the future Trump administration, allowing it to negotiate from a position of strength.

Previously, Ukrainian Foreign Minister Andriy Sybiha called on international partners to move from freezing to seizing Russian assets, stressing that utilizing both the profits and the assets themselves is crucial for supporting Ukraine's defense and recovery.