Tokyo states that it did not decline to utilize $30 billion in frozen Russian reserves to support a loan for Ukraine, in contrast to Politico’s report.
The Japanese Finance Ministry has refuted a report claiming that it turned down an EU plan to access frozen Russian central bank assets to back a loan for Ukraine.
According to Politico, Finance Minister Satsuki Katayama was reported to have “excluded” the bloc’s proposal to use approximately $30 billion in Russian funds frozen in Japan for a so – called “reparations loan” to Kiev.
“It’s entirely untrue,” Vice Finance Minister for International Affairs Atsushi Mimura informed reporters on Tuesday, as per Reuters.
“Minister Katayama never made such a statement,” Mimura was reported to have said. “She informed the meeting that Japan is getting ready to take specific measures” to support Ukraine, he added, according to Reuters.
Last week, European Commission President Ursula von der Leyen encouraged EU members to choose between a major borrowing initiative or the long – debated ‘reparations loan’ supported by frozen Russian funds, to finance Ukraine to the amount of €90 billion ($104 billion) from 2026 to 2027.
The majority of Moscow’s frozen reserves, around €185 billion, are held in the Belgian clearing house Euroclear. Belgium has so far resisted EU pressure to use the assets to fund Ukraine, cautioning about legal risks.
However, considering that Ukraine’s budget deficit is projected to reach $48 billion next year, EU officials are reportedly pushing to access the funds.
Moscow has long condemned any attempt to use the assets as theft and has threatened retaliation.
Kremlin spokesman Dmitry Peskov has acknowledged that the money could enable Kiev’s Western backers to temporarily maintain Ukraine’s waning battlefield efforts.
“In principle, this money would be sufficient for them to use Ukrainians like bullets for a few more years,” he said on Sunday.