Germany seeks EU approval on using frozen Russian assets
German Finance Minister Lars Klingbeil made the announcement during a joint press briefing alongside Chancellor Friedrich Merz and senior coalition leaders, following a meeting at the Chancellery on Wednesday evening. A central topic of their discussions was ensuring continued financial and military support for Ukraine.
"I am very grateful to the chancellor for bringing the Europeans together right now and ensuring that we in Europe have a strong voice. I consider that absolutely crucial in this decisive phase of the war," Klingbeil said. "We were united yesterday on how we can continue our support for Ukraine."
Klingbeil explained that Chancellor Merz’s proposal to allocate immobilized Russian funds to bolster Ukraine’s military, together with the European Commission’s recent plan, will be reviewed by EU finance ministers and senior officials today.
"I will be in Brussels today for the Eurogroup and Ecofin meetings, where this will be a major topic. Yesterday, we agreed that Germany wants to be a driving force on this matter—that we want to find a solution and explore ways to maintain financial support for Ukraine," he added.
The concept of using frozen Russian assets for Ukraine was initially suggested by Chancellor Merz in September, with EU Commission President Ursula von der Leyen presenting a more detailed plan last week. The initiative is designed to both intensify pressure on Russia and create a dedicated funding channel for Ukraine’s military assistance.
However, Belgium, which hosts Euroclear—the primary depository for the EU’s frozen Russian assets—has raised concerns about the proposal. Belgian authorities worry that the country could face legal complications and financial liability alone. As a result, the Belgian government has requested modifications to the European Commission’s initial plan to mitigate potential legal and financial risks while ensuring Euroclear is protected.
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