For the time being, any plan to seize Europe's frozen Russian assets and use the money to help Ukraine is on the back burner. Western EU countries in particular are fierce in their opposition for fear of legal ramifications and the
potential destabilization of the eurozone.
For example,
Turkey, China and the UAE enabled Russia to avoid some Western sanctions imposed after the start of its full-scale invasion, giving its economy a boost and allowing it to finance its war machine.
And throughout the conflict, Gulf states have acted as middlemen, facilitating prisoner swaps between Russia and Ukraine and brokering a deal to allow grain exports out of the war-torn country. The argument given by these countries is that seizing Russian assets might prolong the war and force them to pick sides against their wishes.
An escalation of the war and
the possibility of a Russian defeat go against the interests of Gulf states, said Theodore Karasik, senior advisor at the Gulf State Analytics consultancy.
“
Gulf states do not want to see Russia fall apart,” he said, pointing to their investment in the country.
He added that using Russian assets to rebuild Ukraine might undermine their ambition of playing a leading role in the country's post-war reconstruction.