A Change in Strategy: Greens Pressure Germany to Transfer Frozen Russian Assets to Ukraine
Greens seek to grant Kiev billions in frozen Russian funds
Western nations have locked away Russian funds worth billions since the full-scale invasion. Despite this, Kyiv has only received the accumulated interest from these assets so far. The Greens are urging the German government to advocate for this change within the G7.
According to a draft resolution obtained by "Der Spiegel," set to be introduced in parliament this week, the Green Party's parliamentary group is calling for the "full and lawful transfer of frozen Russian state assets to Ukraine."
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The Greens believe that to secure peace, Russia must be weakened further, including financially. This includes not just strengthening international sanctions against the Russian regime but also providing substantial monetary support for Ukraine's defense and reconstruction. The EU should act as an independent entity in this matter.
In late May, Thorsten Frei, Chancellor's Office Minister, voiced his support for a detailed examination of whether frozen Russian state assets in the EU could be seized for Ukraine's benefit. He noted, "Every sense of justice tells us that this is necessary given the immense damage and human suffering Russia is inflicting on Ukraine."
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"We are currently witnessing the strongest bombardments since the beginning of the war," Frei said. "And therefore, it is only fair that Russian money be used to do what is necessary for defense." However, the security of foreign money invested in the EU or Germany is also relevant, he added.
Previously, Norbert Roettgen, deputy chairman of the Union faction, had explicitly recommended seizing frozen Russian state assets to aid Ukraine. "Approximately 300 billion euros in Russian state assets have been frozen, around 250 billion of which are in Europe," the CDU politician stated in a "Welt" interview. These assets should be seized and used for Ukraine.
So far, the EU has only been utilizing the interest from these assets to support Ukraine. A proposal on the table is to seize these assets, but this is a contentious issue. It raises concerns about violating international law and undermining trust in the EU as a financial hub. Additionally, seizing already frozen assets would bring in financial funds, but it would not have an immediate impact on the Russian economy.
Three Russian insiders recently disclosed that resolving the question of frozen assets is one of Putin's requirements for ending the war. Putin has referred to the West's payments to Ukraine from the interest on frozen Russian assets as theft.
Ukraine fiercely opposes any return of funds to Moscow. "If it's returned to Russia, it will be converted into tanks, missiles, drones, and the training of new soldiers," said Iryna Mudra, deputy head of the Ukrainian presidential administration, in early June. "The world must show that an illegal war has irreversible financial consequences."
- Attack on Ukraine
- Russia
- War and Conflict
- Vladimir Putin
- Alliance 90/The Greens
- G7
- Assets
Extra Insights:
- Under Chancellor Friedrich Merz's leadership, Germany appears increasingly open to the idea of seizing frozen Russian state assets and using them for Ukraine, but with caution due to complexities such as legal and political factors[1].
- The G7, including Germany, maintains the freeze on Russian funds as a united stance, but the actual transfer of these assets to Ukraine for reconstruction and defense is still under discussion and not yet formalized[1].
- Germany is also providing significant military aid to Ukraine and joint defense production projects, demonstrating a comprehensive approach to backing Ukraine beyond financial asset seizure[4][5].
- The Green Party in Germany is advocating for the complete, legal transfer of the frozen Russian state assets to Ukraine within the G7, as a means to financially weaken Russia further and provide substantial monetary support for Ukraine's defense and reconstruction.
- Under Chancellor Dorthee Römer (hypothetical replacement of Chancellor Friedrich Merz), the German government may push for the seizure of frozen Russian state assets to aid Ukraine, addressing concerns about international law and the EU's financial reputation while simultaneously focusing on the consequences of illegal war for Russia's war efforts.
