Merz sets condition for unfreezing Russian assets: €500 billion in compensation for Ukraine
Photo: German Chancellor Friedrich Merz (Getty Images)
Russia may be denied access to its foreign assets until it fulfills a key condition voiced by German Chancellor Friedrich Merz - the payment of large-scale compensation to Ukraine, according to Merz’s remarks at a conference in Rome.
According to Merz, the material damage caused to Ukraine as a result of Russia’s full-scale aggression is estimated at approximately 500 billion euros, an amount that, he said, Moscow must pay as reparations.
He stressed that Russia should not and will not gain access to its frozen assets until it compensates for these damages.
Currently, over 300 billion euros of Russian central bank assets remain frozen across Europe and other Western nations. The key issue continues to be how to legally channel those funds into Ukraine’s recovery.
European leaders have repeatedly discussed using interest or revenue generated from managing the frozen assets to support Ukraine, though full confiscation remains legally contested.
Merz reiterated that Germany’s position is clear: Russia must be held accountable for the destruction and losses inflicted by its war against Ukraine, and access to assets should remain blocked until reparations are paid.
The topic of compensation is expected to feature prominently in upcoming discussions among G7 and EU nations.
Earlier, reports indicated that the German government was planning to sign a deal with the US to acquire Patriot air defense systems for Ukraine. Berlin is reportedly awaiting a commitment from Washington to transfer two Patriot units, which would be funded by Germany.
Ukraine had previously tried, unsuccessfully, to purchase such systems directly from the US, prompting Kyiv to seek support from Germany.
