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German Chancellor Merz Defers Norway Visit
(MENAFN) German Chancellor Friedrich Merz abruptly canceled his Friday visit to Norway, pivoting to Brussels for urgent discussions with Belgian Prime Minister Bart De Wever, his office disclosed Thursday.
A government spokesperson confirmed Merz will participate in a dinner summit alongside De Wever and EU Commission President Ursula von der Leyen, though specific agenda details remain undisclosed.
The eleventh-hour itinerary shift materializes as Germany scrambles to lock down Belgium's backing for a contentious EU strategy leveraging frozen Russian financial holdings to bankroll Ukraine support.
Merz initially unveiled the initiative last September, with EU Commission President Ursula von der Leyen elaborating on the framework during Wednesday's press briefing. The scheme targets intensified economic pressure against Russia while generating capital streams for Ukrainian military assistance.
The proposal envisions the European Commission establishing a reparations-based loan mechanism, drawing upon cash reserves from immobilized Russian assets throughout EU territory. Kyiv would face repayment obligations exclusively after Russia fulfills war reparations commitments.
Von der Leyen stressed that the financing package incorporates comprehensive protective measures shielding EU nations and financial institutions from potential Russian countermeasures or illicit enforcement proceedings in non-member countries.
"A solidarity mechanism would allow the EU to collectively absorb any residual risks," von der Leyen said—a guarantee directed particularly toward Belgium, which hosts Euroclear, the primary custodian of Russian assets frozen within the EU.
Nevertheless, Belgium has voiced serious reservations about the blueprint, expressing apprehension over prospective legal battles and concerns about shouldering financial exposure unilaterally. The Belgian government has demanded equitable distribution of both monetary and legal liabilities across all EU member nations.
Wednesday saw Belgian Foreign Minister Maxime Prevot articulate exasperation with the EU's approach. "We have the frustrating feeling of not being heard. Our concerns are being downplayed. The text the European Commission will table today does not address our concerns satisfactorily," Prevot told reporters.
A government spokesperson confirmed Merz will participate in a dinner summit alongside De Wever and EU Commission President Ursula von der Leyen, though specific agenda details remain undisclosed.
The eleventh-hour itinerary shift materializes as Germany scrambles to lock down Belgium's backing for a contentious EU strategy leveraging frozen Russian financial holdings to bankroll Ukraine support.
Merz initially unveiled the initiative last September, with EU Commission President Ursula von der Leyen elaborating on the framework during Wednesday's press briefing. The scheme targets intensified economic pressure against Russia while generating capital streams for Ukrainian military assistance.
The proposal envisions the European Commission establishing a reparations-based loan mechanism, drawing upon cash reserves from immobilized Russian assets throughout EU territory. Kyiv would face repayment obligations exclusively after Russia fulfills war reparations commitments.
Von der Leyen stressed that the financing package incorporates comprehensive protective measures shielding EU nations and financial institutions from potential Russian countermeasures or illicit enforcement proceedings in non-member countries.
"A solidarity mechanism would allow the EU to collectively absorb any residual risks," von der Leyen said—a guarantee directed particularly toward Belgium, which hosts Euroclear, the primary custodian of Russian assets frozen within the EU.
Nevertheless, Belgium has voiced serious reservations about the blueprint, expressing apprehension over prospective legal battles and concerns about shouldering financial exposure unilaterally. The Belgian government has demanded equitable distribution of both monetary and legal liabilities across all EU member nations.
Wednesday saw Belgian Foreign Minister Maxime Prevot articulate exasperation with the EU's approach. "We have the frustrating feeling of not being heard. Our concerns are being downplayed. The text the European Commission will table today does not address our concerns satisfactorily," Prevot told reporters.
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