Germany has opened a discussion on channeling Russia’s frozen assets in favor of Ukraine

German lawmakers have expressed openness to the idea of using Russia’s frozen assets to support Ukraine. The discussion concerns €210 billion of the Russian Central Bank’s assets currently frozen in the EU.

The statement came from leaders of two Bundestag coalition factions visiting Kyiv — Jens Spahn of the CDU/CSU and Matthias Miersch of the Social Democratic Party (SPD).

Miersch emphasized that negotiations among European countries on new sanctions against Russia are ongoing, noting that “all options are on the table.”

According to preliminary data from the European Commission, about €210 billion of the Russian Central Bank’s assets remain frozen in the EU, with the majority held at the Brussels-based financial institution Euroclear.

Since mid-2023, the EU has been using interest income from these assets to finance the supply of weapons and ammunition to Ukraine. However, direct expropriation of Russian funds raises concerns in several EU countries due to legal risks and potential retaliatory measures from Moscow.

Source: Tagesschau, iPress