Merz Says Leveraging Frozen Russian Assets Best Option for Ukraine
"You know my position. I see no better option than precisely this. It is my impression that we can reach an agreement," Merz stated while addressing reporters before entering the Brussels summit venue.
The German chancellor acknowledged apprehensions voiced by certain member nations—particularly Belgium—but expressed optimism that collective negotiations could "resolve them together" and "show a sign of strength and resolve towards Russia."
Twenty-seven EU heads of state convened Thursday in Brussels to deliberate on whether €210 billion ($246 billion) worth of seized Russian holdings should serve as collateral backing a loan package to Kyiv.
Belgian Prime Minister Bart de Wever has insisted that liability distribution requires coordinated multilateral action alongside establishing juridical foundations for utilizing Russian assets as security.
Nearly €185 billion (approximately $217 billion) of the immobilized Russian capital sits within Belgium's Euroclear depository.
Belgium, Italy, Malta, and Bulgaria advocate for alternative financing mechanisms instead of Russian assets, while Hungary, Slovakia, and Czechia outright reject providing financial assistance to Ukraine.
Last week, EU nations voted to indefinitely freeze €210 billion of Russian holdings.
This action, combined with multiple protective guarantees, aims to secure Belgium's endorsement of the collateral-based strategy utilizing Russian assets.
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