Germany Ready to Seize Russian Assets

by Olha Povaliaieva
Tuesday, January 4, 2023
Germany Ready to Seize Russian Assets

Funds can be transferred as reparations for the restoration of post-war Ukraine

According to Bloomberg, citing participants in the closed dialogue, Olaf Scholz raised the topic of freezing Russian assets to help Ukraine. Today in Germany, there are billions of euros of Russian persons with Russian citizenship involved in the war, preparing Ukraine. If the authorization procedure proceeds in accordance with the planned route and in tandem with the rest of the EU and G7 countries, the funds will be transferred to Ukraine as reparations. At the same time, in Germany, there are still disagreements in the ranks of the ruling coalition. If no one-size-fits-all solution is found, sequestration trials could take years, and the authorization procedure could become nothing more than a symbolic tool for countering war.

As of today, the EU and the G7 have frozen at least €300 billion, and only the EU — from €19 billion. According to Bloomberg, the idea of seizing Russian assets is growing from a simple debate into a practical implementation phase. At the same time, Chancellor Scholz plans to coordinate his steps with international partners.

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