German chancellor pushes for use of frozen Russian assets to aid Ukraine

German Chancellor Friedrich Merz announced on Thursday that he will urge the European Union to use frozen Russian assets to provide a €140 billion ($163 billion) loan to Ukraine at the upcoming EU summit. The funds would help finance Ukraine’s ongoing war effort.

Merz, who first proposed an interest-free EU loan backed by the frozen assets in late September, emphasized in a Bundestag speech that the goal is not to prolong the conflict but to bring it to an end, News.Az reports, citing Reuters.

He added, “Putin must realize that our support for Ukraine will not wane, but will grow, and that he cannot count on outlasting us.”

News.Az