Germany has announced its opposition to the confiscation of frozen Russian assets to fund aid for Ukraine.
Government spokesperson Steffen Hebestreit reaffirmed this stance during a press conference on Wednesday, stating, “Our position remains unchanged; the discussion is about the interest on the assets, not the assets themselves.”
Further clarifying, a spokesperson from the German Ministry of Finance said that the assets of the Russian central bank would remain intact.
She added, “Thus, we maintain our commitment to fundamental international legal principles such as state immunity, which is our current position.”
The European Union and the Group of Seven (G7) countries have frozen Russian assets valued at approximately $300 billion in response to Russia’s military actions.
While the US Congress has approved legislation allowing for the confiscation of frozen Russian assets, the EU has decided to seize the interest accrued on these assets and allocate it to aid Ukraine.
Russia has condemned the confiscation of its assets as “theft” and warned that it would take retaliatory measures against the seizure of its assets abroad.
