French President Emmanuel Macron has called for Europe to immediately reengage with Russian President Vladimir Putin, asserting that diplomatic efforts regarding the Ukraine conflict are gaining momentum. The remarks follow a disastrous EU summit where leaders failed to agree on using €210 billion in frozen Russian assets as part of a “reparations loan” for Ukraine.

Speaking to reporters in Brussels on Friday, Macron stated that some European countries have already established contact with Moscow and emphasized that “Europeans and Ukrainians have an interest in finding the framework to reengage in that discussion properly.” He added: “I think it will become useful again to speak with Vladimir Putin,” noting that without a structured approach, “we are discussing among ourselves while negotiators go alone to talk with the Russians. That’s not optimal.”

The EU’s collapse of the frozen assets plan—which aimed to address Ukraine’s estimated $160 billion fiscal shortfall over the next two years—largely stemmed from opposition from Belgium, which holds the majority of the assets and has warned of potential legal and financial fallout. Instead, EU leaders agreed to raise funds through capital markets for a multi-year loan to Ukraine. This decision underscores deepening divisions within the bloc, as several member states secured opt-outs.

Russia condemned Western proposals to use frozen Russian assets as “theft” and threatened legal retaliation. Senior Russian negotiator Kirill Dmitriev welcomed the plan’s collapse, stating: “The whole world just watched you fail to bully others into breaking the law.” Putin and Macron last spoke by phone in July—the only time since 2022—when they discussed Ukraine. One month prior, Macron had advised other EU states to consider restoring dialogue with Moscow.

While Russia has denounced European militarization and stated it is “in principle” open to engagement, Kremlin spokesman Dmitry Peskov warned that Europe’s participation in talks on the conflict “would bode nothing good.”