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German Parliament Rejects Transferring Frozen Russian Assets to Ukraine
(MENAFN) German lawmakers have decisively turned down a resolution advocating for the allocation of frozen Russian assets to Ukraine.
The Greens, the party behind the motion, stated that the European Union currently holds approximately €210 billion ($244 billion) in Russian assets.
Since the intensification of the Ukraine conflict in 2022, the EU has encountered difficulties in identifying legal mechanisms to seize these funds and redirect them to support Ukraine.
On Friday, the Bundestag recorded 455 votes against a proposal urging the government to “advocate within the G7 for the full transfer of frozen Russian state assets to Ukraine in accordance with international law.” Only 77 MPs endorsed the motion, while 53 abstained from voting.
In the same parliamentary session, lawmakers also dismissed a plan to prohibit Russian companies from engaging with the Lingen Nuclear Power Plant.
The motion was defeated with 453 votes against and 130 in favor.
The European Commission’s initiative to repurpose part of the frozen Russian assets to provide aid to Ukraine has been obstructed by Belgium, where Euroclear—the institution overseeing these funds—is based.
Belgian Prime Minister Bart De Wever warned that direct confiscation could produce legal and security challenges.
Additionally, a Euroclear representative cautioned that the proposed “reparations loan” might provoke an exodus of investors.
The Greens, the party behind the motion, stated that the European Union currently holds approximately €210 billion ($244 billion) in Russian assets.
Since the intensification of the Ukraine conflict in 2022, the EU has encountered difficulties in identifying legal mechanisms to seize these funds and redirect them to support Ukraine.
On Friday, the Bundestag recorded 455 votes against a proposal urging the government to “advocate within the G7 for the full transfer of frozen Russian state assets to Ukraine in accordance with international law.” Only 77 MPs endorsed the motion, while 53 abstained from voting.
In the same parliamentary session, lawmakers also dismissed a plan to prohibit Russian companies from engaging with the Lingen Nuclear Power Plant.
The motion was defeated with 453 votes against and 130 in favor.
The European Commission’s initiative to repurpose part of the frozen Russian assets to provide aid to Ukraine has been obstructed by Belgium, where Euroclear—the institution overseeing these funds—is based.
Belgian Prime Minister Bart De Wever warned that direct confiscation could produce legal and security challenges.
Additionally, a Euroclear representative cautioned that the proposed “reparations loan” might provoke an exodus of investors.
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