German Chancellor on the Use of Frozen Russian Assets

German Chancellor Friedrich Merz supports the application of Article 122 of the EU Treaty, which will allow for extraordinary measures regarding economic matters related to the use of frozen Russian assets to assist Ukraine, reports the Financial Times, citing sources.

The newspaper notes that the German Chancellor plans to discuss the use of frozen Russian assets with Belgian Prime Minister Bart De Wever to aid Kyiv. The report emphasizes that the meeting between the two European leaders follows the presentation of legal proposals by European Commission President Ursula von der Leyen for providing loans to Ukraine using the EU's extraordinary powers.

It is highlighted that this measure would allow Russian assets to remain frozen indefinitely while providing the loan without the possibility of a veto from individual EU member states.