Germany Says Debate on Seized Russian Assets for Ukraine Is Over

The issue of using frozen Russian assets to support Ukraine has been removed from the agenda, German Foreign Minister Johann Wadephul said during a press conference with Belgian Foreign Minister Maxime Prévot. The event was broadcast by the German Foreign Office.

Berlin Declares Discussion Concluded

Johann Wadephul explained that the debate has ended for now because other instruments exist to assist Ukraine. He emphasized that the topic has been "fully clarified,” adding that the EU has already initiated an alternative financial mechanism.

"The issue has been definitively clarified. We initiated this loan, so this is the path we intend to follow. But at present, the discussion is concluded thanks to a very strong set of alternative tools,” Wadephul said.

EU Loan Plan and Hungarian Veto

Instead of directly confiscating Russian assets, EU member states opted to provide Ukraine with a €90 billion credit package. According to the proposal, €60 billion would fund arms purchases for the Ukrainian military, while €30 billion would support Ukraine's state budget. The European Parliament approved the measure, but Hungary blocked the loan at the level of the Council of the European Union.

Confiscation Still Possible Later

Wadephul noted that the issue of confiscating frozen Russian assets could return to the agenda when the question of compensation for damages arises. For now, however, European policymakers are focusing on alternative financing channels.

Background of the Decision

On February 4, EU ambassadors agreed on the €90 billion loan for Kyiv, with disbursement expected in April. The decision served as an alternative to the direct use of frozen Russian assets. Later, the Financial Times, citing sources, reported that Hungary had blocked the initiative. According to the publication, Budapest's position may be linked to upcoming parliamentary elections.