Four EU countries urged Brussels to confiscate Russian assets - media.

Four countries Lithuania, Estonia, Latvia, and Poland called on the European Union to increase defense spending to €100 billion. The countries also urged support for Ukraine and the seizure of frozen assets of the Central Bank of the Russian Federation.

The document states that the EU should utilize joint borrowing and allow the European Investment Bank to spend money on defense needs. The countries also call for the EU to cooperate with partners outside the bloc, including the United Kingdom.

Defense spending needs to double

According to the countries' estimates, the spending of EU member states on defense in 2024 will amount to approximately €326 billion. However, according to the document, this figure needs to double to reach a target of no less than 3% of GDP and be prepared for emergency military situations.

The EU is expected to present a new defense strategy in March. Four countries warn that Russia has already begun to increase its military capabilities and produce more artillery shells than Europe and the USA combined. The bloc also faces challenges due to its dependence on Beijing and strengthening ties with Russia, China, Iran, and North Korea.

EU demands and support for Ukraine

According to EU demands, at least €50 billion must be allocated to increase the production of artillery and strategic reserves. The countries also call for continuous and sustainable military support for Ukraine, noting that Kyiv has growing production potential but needs financial support. The EU must also take measures to confiscate frozen Russian assets.