Merz rejects US proposal to take control of frozen Russian assets

German leader Friedrich Merz clearly outlined Berlin's position on the fate of frozen Russian funds held in European jurisdictions. The Chancellor refused the United States' request to take these assets under its control.

Decision remains with Europe

Commenting to journalists on Washington's initiative to transfer Russian assets frozen in the EU to US management with the aim of facilitating a peaceful settlement of the conflict in Ukraine, Merz emphasised that such decisions fall within the competence of European states.

«Це активи, які заморожені в Європі — і вони мають залишатися замороженими в Європі. Це наша справа, і ми ухвалюємо щодо цього рішення» ("These are assets that are frozen in Europe — and they must remain frozen in Europe. This is our business, and we make the decision on this"), the German Chancellor noted.

Context of Washington's proposal

Earlier, international media reported on a new proposal from the administration of US President Donald Trump, addressed to the European Union. According to sources, Washington proposed unfreezing a portion of Russian sovereign assets and transferring them to a financial structure that would operate under American control. It was expected that such a move would help restore peace negotiations on ending the war in Ukraine.

EU summit without discussion of assets

Meanwhile, a summit of European Union leaders is taking place in Brussels on 15–16 October. The issue of using frozen Russian assets was not included in the agenda of this meeting. It is also known that EU member states do not plan to adopt additional decisions on financing Ukraine.

Prior sanctions changes

Recall that recently the Donald Trump administration temporarily eased some energy sanctions against Russia. This decision concerned operations involving Russian diesel fuel and was made after negotiations between Washington and Moscow.