Germany, France urge EU unity on using Russian assets to aid Ukraine

German Chancellor Friedrich Merz has expressed support for the so-called “reparations loan” for Ukraine, to be financed using frozen Russian assets, stressing that he sees no alternative options.

Merz made the statement upon arriving at the European Union summit in Brussels on Thursday, December 18, Caliber.Az reports per Ukrainian media.

The German head of government noted that the EU is currently facing two key tasks: providing continued financial and political support to Ukraine, and advancing an agreement with South American countries within the MERCOSUR framework.

The chancellor acknowledged concerns voiced by a number of countries — Belgium in particular — but expressed hope that EU member states would be able to reach a common decision. He said such a move would send a clear signal to Russia about the EU’s strength and determination.

Merz also added that Russian President Vladimir Putin’s reaction only confirms how necessary such a step is.

French President Emmanuel Macron echoed Merz’s position, stressing the importance of the EU adopting a decision on providing Ukraine with a so-called “reparations loan” to enable it to continue resisting Russia’s aggression.

the French president said the EU summit is taking place at a critical moment, when Europe must demonstrate its readiness to defend its territory, citizens, economy and security. He noted that using frozen Russian assets to assist Ukraine would help finance Kyiv’s military efforts and strengthen its position in future peace negotiations.

“We must give Ukraine visibility, we must allow it to continue resisting, and we must be there to support it in building a just and lasting peace,” Macron said.

The French leader urged EU member states to unite and develop a common stance on financing Ukraine, noting that the European Commission has proposed several options for using frozen Russian assets, with discussions currently underway to determine the most effective mechanism.

Last week, the EU used emergency powers to indefinitely freeze €210 billion of Russian assets in the bloc, averting the risk of losing control of the funds if any other EU country vetoed the renewal of sanctions, which have to be renewed every six months.

By Khagan Isayev