Germany and Belgium against seizing Russian central bank assets in the EU

(Patria) - Germany and Belgium do not like the idea of seizing Russian central bank assets currently frozen within the European Union.

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

"From a legal point of view, it is not that simple," said De Wever.

Merz also warned of a negative impact on the capital market. It could happen that other countries then withdraw their state assets.

According to the European Commission, around 210 billion euros of the Russian central bank are frozen in the EU due to the invasion of Ukraine.

Interest income is now used to finance weapons and ammunition for Ukraine.

However, proposals to use the money directly through expropriation orders are controversial.

De Wever advocates for maintaining the current approach, where only interest from the frozen assets of the Russian central bank is used.

"It's like a goose that lays golden eggs. We should keep that goose. Only when a peace agreement between Russia and Ukraine is negotiated can the goose be put on the table," concluded the Belgian Prime Minister.