Spain proposes setting up a new defense fund within the EU, utilizing Russia’s frozen central bank assets to provide non-refundable grants to enhance Europe’s defense lines and support Ukraine. Economy Minister Carlos Cuerpo made this suggestion during a European Union meeting on Saturday, aiming to create a temporary instrument to finance large-scale European-wide projects.
Source: https://www.bloomberg.com/news/articles/2025-04-12/eu-should-use-frozen-russian-assets-to-boost-defense-spain-says