Germany open to ideas on frozen Russian assets, finance minister says

In a significant development, German Finance Minister and Vice Chancellor Lars Klingbeil has expressed Berlin’s willingness to explore productive ideas regarding the use of Russian assets frozen in the European Union. Speaking in Copenhagen on Friday, Klingbeil emphasized the need for careful examination of the issue, which remains legally complex and sensitive. ‘Germany will take on a role in which we want to make things possible and not one in which we block things,’ he stated, signaling a cooperative approach ahead of discussions with EU counterparts. The EU has been cautious about seizing the assets outright, a move considered a red line by some member states. Instead, the bloc is exploring ways to utilize these assets more intensively to support Ukraine, particularly amid uncertainties surrounding U.S. commitment under President Donald Trump. Since Russia’s invasion of Ukraine in February 2022, the EU has only accessed the interest generated from the frozen assets. Germany has historically raised legal concerns over proposals to seize the assets entirely. However, Klingbeil affirmed his coalition government’s commitment to intensifying their use to meet Ukraine’s financial needs. ‘There is a financial need there. We want to fulfill our responsibility for Ukraine,’ he told reporters. This stance underscores Germany’s evolving position on a contentious issue that continues to shape Europe’s response to the ongoing conflict.