EU Plan to Unlock Frozen Russian Assets for Ukraine Gains German Support
The German government has shown willingness towards the EU's plan to distribute frozen Russian assets to Ukraine, with a scheme potentially involving up to 200 billion euros. This strategy intends to aid Ukraine amidst doubts over U.S. backing as EU leaders prepare to meet in Copenhagen.
In a significant development, the German government has expressed open-mindedness towards a European Union initiative to channel frozen Russian assets to Ukraine. This plan, expected to be a focal point of an informal EU summit in Copenhagen, could deliver close to 200 billion euros for assistance.
According to sources, the EU strategy involves transferring Russian funds held in a Belgian depository and substituting them with EU-backed bonds. This initiative was prompted by uncertainties surrounding the U.S.'s ongoing support for Ukraine, particularly under the administration of President Donald Trump.
Germany, previously cautious about legally contentious asset seizures, appears to be reconsidering its position. Finance Minister Lars Klingbeil hinted at this shift during recent statements, as the EU seeks greater financial contributions from Europe for Ukraine's defense needs.
(With inputs from agencies.)
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