German chancellor demands Russia pay €500 billion in reparations Before accessing frozen assets

German Chancellor Friedrich Merz has called for Russia to pay extensive reparations to Ukraine before regaining access to its frozen foreign assets, which currently total over €300 billion across Europe and other Western countries.

Speaking at a conference in Rome, Merz estimated the material damage caused by Russia’s full-scale invasion of Ukraine at approximately €500 billion. He emphasised that Moscow should not be allowed to access its frozen central bank assets until it fully compensates Ukraine for the destruction and losses inflicted by the ongoing war, Caliber.Az reports via Ukrainian media.

European governments have grappled with the legal complexities surrounding the frozen Russian assets. While some have proposed using the interest or revenue generated from these assets to support Ukraine’s recovery efforts, outright confiscation remains legally contentious.

Germany’s firm stance on blocking Russia’s access until compensation is paid is expected to influence upcoming discussions among G7 and EU leaders, who are prioritising accountability for the war’s devastation.

In a related development, Berlin is reportedly preparing to sign an agreement with the United States to provide Ukraine with Patriot air defence systems. Germany awaits Washington’s commitment to transfer two Patriot missile units, which Germany would fund. This move follows Ukraine’s unsuccessful attempts to purchase the systems directly from the US, prompting Kyiv to turn to its European partners for support.

By Vugar Khalilov