Spanish Economy Minister Carlos Cuerpo announced on Friday that his government backs the European Commission’s efforts to monetise frozen Russian assets held in the EU to finance the Ukrainian government.

In an interview with Bloomberg TV, Cuerpo emphasised Spain’s commitment to increasing financial support for Ukraine, stating, “We’ve been advocating for increasing as much as possible the financing for Ukraine.”

He also highlighted the need to explore creative ways to utilise immobilised assets.

Additionally, Cuerpo noted that Spain, a major importer of Russian liquefied natural gas within the EU, is working to reduce these imports and diversify its energy sources by seeking supplies from countries like the United States.