Merz: Using frozen assets will pressure Russia to negotiate

Germany seeks to use frozen Russian assets to provide loans to Ukraine, which may serve as an important negotiating tool with Moscow, reports Ukrinform.

 

During a press conference with his Swedish counterpart, Ulf Kristersson, in Berlin, German Chancellor Friedrich Merz said the issue of using frozen Russian assets is being discussed within the European Council and should be included on the agenda for the next meeting in December.

Merz noted that an agreement on the use of these assets could serve as collateral for a loan that would provide Ukraine with the necessary materials and weapons. He also highlighted the need to convince some countries, particularly Belgium, of the importance of this step and expressed hope that progress would be made by 18 December.

The chancellor stressed that fighting corruption in Ukraine is crucial to maintaining partnerships with Europe and advancing toward EU membership. He emphasised that addressing corruption is a prerequisite for further development of relations and continued support in the context of the ongoing conflict.

The Belgian central depository Euroclear, which holds approximately €193 billion in frozen Russian assets, has indicated it would challenge in court any EU decision to confiscate the funds in favour of Ukraine.

Ukraine is urging its European allies to make a political decision next month to release a proposed $163 billion loan, based on frozen Russian state assets.