Necessity sparks innovation - how Europe wants to access Russia's billions - Merz's Bold Plan: Using Frozen Russian Assets to Finance Ukraine's Defense
A controversial proposal by German Chancellor Friedrich Merz to use frozen Russian central bank assets as collateral for a loan to Ukraine is gaining traction. The plan, which aims to finance Ukraine's long-term defense against Russia, has received support from Hungary and Slovakia.
Merz proposed using 140 billion euros of frozen Russian central bank assets in the EU to secure the loan. This proposal will be a key topic of discussion at the upcoming EU summit in Copenhagen. The Chancellor's idea has found favour with some EU members, with Hungary and Slovakia expressing their support so far. The loan, if approved, would provide Ukraine with much-needed funds to sustain its defense efforts against Russia over the long term.
The proposed loan, using frozen Russian assets as collateral, could significantly bolster Ukraine's capabilities in its ongoing conflict with Russia. The EU summit in Copenhagen will determine the fate of this proposal, which has the potential to reshape the financial landscape of the conflict.
