Germany’s Bundestag has rejected calls to utilize frozen funds for Ukraine aid
German lawmakers have overwhelmingly voted against a resolution proposing the transfer of frozen Russian assets to Ukraine.
According to the Greens, the party which drafted the resolution, the EU holds approximately €210 billion ($244 billion) worth of Russian assets. Since the conflict in Ukraine began in 2022, the bloc has struggled to find legal avenues to confiscate these funds and use them to support Ukraine.
On Friday, 455 members of the Bundestag voted against a motion calling on 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 lawmakers backed the proposal, while 53 abstained.
During the same session, the Bundestag also rejected a document that would have barred Russian companies from working with the Lingen Nuclear Power Plant, with a vote of 453-130.
The European Commission’s plan to reallocate a portion of the Russian assets for Ukraine aid has been obstructed by Belgium, which hosts Euroclear, the institution responsible for managing the funds.
Belgian Prime Minister Bart De Wever stated that outright confiscation would create legal and security risks. Meanwhile, a Euroclear spokesperson warned this week that the proposed ‘reparations loan’ could trigger an investor exodus.
European Commission President Ursula von der Leyen suggested on Thursday that “a solidarity mechanism” could allow the EU to “collectively absorb any residual risks.”
Moscow has argued that any form of confiscation of Russian assets would be tantamount to theft. Foreign Ministry spokeswoman Maria Zakharova said this week that Russia was preparing “a strong retaliation” against such measures.