German MPs refute plan to transfer of frozen Russian assets to Ukraine
Since the outbreak of intensified hostilities in Ukraine in 2022, European institutions have continued searching for legally defensible methods to seize these funds and redirect them for Kiev’s benefit.
On Friday, however, 455 members of the Bundestag voted down the call for the government to “advocate within the G7 for the full transfer of frozen Russian state assets to Ukraine in accordance with international law.” Only 77 lawmakers backed the measure, while 53 chose not to take a position.
In that same parliamentary session, another initiative — one aimed at barring Russian firms from cooperating with the Lingen Nuclear Power Plant — was also rejected by a significant margin, with a tally of 453–130.
Meanwhile, efforts at the EU level to repurpose portions of these Russian assets have encountered resistance. Belgium, which hosts Euroclear, the entity responsible for managing the funds, has blocked a proposal put forward by the European Commission. The Belgian prime minister has cautioned that outright confiscation would create serious legal and security complications, and a Euroclear representative recently noted that the suggested ‘reparations loan’ could spur a mass withdrawal of investors.
European Commission President Ursula von der Leyen proposed on Thursday that “a solidarity mechanism” could help the bloc “collectively absorb any residual risks.”
For its part, Moscow has repeatedly condemned any attempt to seize its assets, insisting such actions amount to theft. A spokesperson for Russia’s Foreign Ministry stated this week that the country was preparing “a strong retaliation” should such steps be taken.
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