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Western companies have exposure in Russia too, in numbers bigger than Russian asset in the EU. So in a title for tat asset seizure, the EU will likely be a net loser.
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Western companies with exposure in Russia were knowingly trading with evil. They deserve their losses. And, once Russia is actually defeated, many of those losses can be taken back by force.
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I doubt the west will ever rule Russia for the take back by force option to be viable.
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Ukrainian soldiers don't need training from NATO; NATO soldiers need training from Ukraine. We are setting ourselves up for a much bigger and more expensive war by failing to stop Russia (and China) now. And we're squandering our opportunity to learn how to fight drone warfare.
As for money, we're holding hundreds of billions of dollars of Russian assets that can trivially be sent to Ukraine. It's more money than Ukraine has ever gotten in military support. Indeed, one objective by Russia in all these fake peace negotiations is to present the narrative that the money can't be spent lest it prevent a peace deal.
A second factor is that Belgium actually taxes the interest on those frozen assets, tbe majority of which it has, adding billions to its federal budget.
Anyway, if the west is serious, it can easily deport these parasites on society and use the money saved to defend themselves via Ukraine. Unfortunately the incentives to do that aren't there: Ukrainian refugees are a rare example of financially profitable immigration.