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Germany ready to use revenues from frozen Russian assets for Ukraine aid, ministry sources told Reuters

Reuters says its German Finance Ministry sources state that Germany is prepared to use the revenues from frozen Russian assets to help Ukraine’s war efforts.
byYuri Zoria
22/05/2024
1 minute read
frozen Russian assets
Frozen Russian assets. Illustrative photo via RT.
Germany ready to use revenues from frozen Russian assets for Ukraine aid, ministry sources told Reuters

Germany is open to utilizing revenues from frozen Russian assets to support Ukraine’s war efforts, according to Reuters, referring to German Finance Ministry sources. The US aims to get G7 agreement next week on forwarding interest earnings from the $300 billion in frozen Russian assets to provide funds for Ukraine.

Reuters says one German source stated they are “certainly prepared” to use a legally viable mechanism to access financial flows from the frozen assets for Ukraine’s benefit. However, Germany remains reserved about directly using the frozen assets themselves, emphasizing the importance of respecting international laws like state immunity.

A Finance Ministry spokesperson confirmed the focus is on using income from the frozen assets, not the assets themselves, to preserve fundamental principles of international law. The Ukrainian finance minister will attend the upcoming G7 meeting on this matter.

G7 considers €30 bn Ukraine loan using frozen Russian assets

Yesterday, the EU approved using the proceeds from frozen Russian Central Bank assets to support Ukraine.

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