The German government is willing to consider a European Union initiative to release frozen Russian assets for Ukraine, a government source told Reuters on Thursday.
According to Politico, the proposal would see up to €200 billion ($235 billion) of Russian funds, currently held in a Belgian depository, redirected to Ukraine and replaced with EU-backed bonds.
The plan, aimed at securing financial support for Kyiv amidst doubts over U.S. commitment under President Donald Trump, is expected to dominate discussions at an informal EU summit in Copenhagen next week.
So far, the EU has only channelled the interest accrued from the frozen Russian assets, which were blocked following Moscow’s invasion of Ukraine in February 2022.
Germany, the bloc’s largest economy and Ukraine’s second-biggest military supporter, has previously raised legal objections to any attempt to seize the funds outright. However, Finance Minister Lars Klingbeil signalled last week that Berlin was reconsidering its position on the contentious issue.
“The German government is open to discussions on the European Commission’s latest proposals,” the government source said, without confirming the details.
While the United States has long been Ukraine’s primary backer and arms supplier, Trump has insisted Europe should shoulder a far greater share of its own defence responsibilities.
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The U.S. State Department approved a $2.7 billion military sale to Ukraine for air-defence development upgrades, along with related equipment and services, the department said. Meanwhile, Ukrainian authorities reported at least 10 people had died in Russian attacks over the last 24 hours.
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