Germany and Belgium oppose seizing Russian state funds frozen in EU

Berlin (dpa) – Germany and Belgium are sceptical about seizing Russian central bank assets that are currently frozen in the European Union.

Chancellor Friedrich Merz and Belgian Prime Minister Bart De Wever agreed on the issue during a meeting in Berlin.

“It’s not that simple from a legal point of view,” said De Wever.

Merz also warned of negative effects on the capital market. Other countries could then also withdraw their state funds.

According to the European Commission, around 210 billion Euro from the Russian central bank has been frozen in the EU due to the invasion of Ukraine.

The interest income is now being used to finance weapons and ammunition for Ukraine.

Proposals to use the money directly through an expropriation order, however, are controversial.

De Wever argued in favour of retaining the current approach and using the interest from the frozen central bank funds. “It’s like a goose that lays golden eggs,” he explained. “We should keep this goose.”

Only when a peace treaty is negotiated between Russia and Ukraine “can the goose be put on the table.” (August 26)