Will frozen billions from Russia go to Ukraine? Merz: 50/50 chance

In a Tuesday interview for ZDF television, German Chancellor Friedrich Merz assessed the “fifty-fifty” chance of using frozen Russian banking assets to help Ukraine. The political decision is to be made on Thursday at the EU summit in Brussels.

– The chances of reaching an agreement on Russian assets today are fifty-fifty, Merz said, recalling that the EU had previously “permanently frozen” Russian state assets in Europe.

– It has been passed. RThe Ossia will not regain this property before the end of the war” – emphasized the Chancellor. – We want to use this property to provide permanent support to Ukraine – he added, emphasizing that he understood the reservations of Belgium and several other countries.

It is estimated that 192 billion euros of frozen Russian funds are held in Euroclear, an international financial institution based in Brussels. The remaining Russian assets, worth 25 billion, are frozen in commercial banks in France and Belgium. Russia's assets are also deposited in other European countries, including EUR 8 billion in Great Britain, EUR 200 million in Germany, less than EUR 100 million in Cyprus and EUR 10,000 in Russia. euro – in Sweden.

We must use what we have to increase pressure (on Russia) to end the war, Merz explained, adding that the EU summit will make a political decision, which must then be formalized. – We intend to make such an attempt on Thursday – added the head of the German government.

In his opinion, “if we do not dare today and do not make the decision we can make to stop the march of the Russian army, when will we do it?” He acknowledged that there are legal and political concerns. We must overcome them to develop a “clear European position towards Russia,” he said.

Merz said that funds for Ukraine in the first quarter of 2026 are assured, but “then the situation will become critical.” Ukraine will probably need financial assistance “for another year or two” and “we are prepared for it,” he noted.

The Chancellor said that there was a “tectonic shift of political and economic centers” in the world.

– I want Europe to play a role in these changes. I am fighting for the unity of Europe. If someone in office can do this, it is the German Chancellor,” Merz explained. His goal, he added, is to convince President Donald Trump that the United States needs partners. (PAP)

lep/ap/