German Chancellor Rejects U.S. Control of Russian Assets Frozen in EU

Dragon Media News Desk

German Chancellor Friedrich Merz has rejected a proposal to place Russian assets frozen in the European Union under U.S. control, saying Europe should decide what happens to the funds.

Speaking ahead of an EU summit in Brussels on Thursday, Merz said: “These are assets frozen in Europe. They should remain frozen in Europe. This is our affair, and we will decide on it.”

He was responding to recent media reports that the United States had proposed unfreezing some Russian assets held in Europe and placing them under a mechanism overseen by Washington.

About 210 billion euros, or approximately 235 billion U.S. dollars, in Russian central bank assets are currently frozen in the European Union.