Germany vows Putin will pay for war with frozen Russian assets
Photo: German Finance Minister Lars Klingbeil (Getty Images)
Russian dictator Vladimir Putin will pay for his war against Ukraine. Germany will find a way to effectively use Russia’s frozen assets, according to German Finance Minister Lars Klingbeil.
Klingbeil expressed confidence that frozen Russian assets could soon be used more effectively.
"It is important that everything is legally secure," he said in Luxembourg before consultations with European finance ministers.
According to the German minister, progress has already been made in this matter recently. Some issues still need to be resolved, and Belgium’s concerns should be taken seriously. However, there are ways to use Russian funds more efficiently.
Klingbeil stated that he is confident that "in the end, we will ensure that Putin pays for his war."
Frozen Russian assets
Previously, after Russia’s full-scale invasion of Ukraine, Western countries imposed a series of tough sanctions against the Russian Federation, including the freezing of Russian assets abroad.
According to IMF estimates, the volume of such assets in 2024–2025 exceeds $300–350 billion. Exact figures are difficult to establish because the funds are distributed across different jurisdictions.
The European Union is considering using frozen Russian assets to provide Ukraine with a so-called reparations loan. The loan would be repaid only after Ukraine receives compensation from Russia.
At the same time, Belgian Prime Minister Bart De Wever has expressed doubts about using frozen Russian assets to finance loans to Ukraine.
However, the EU is increasing pressure on Belgium to approve the use of frozen Russian assets.
