Merz delays Norway visit for discussions in Belgium regarding frozen Russian assets

German Chancellor Friedrich Merz is engaging with Belgium to find a solution regarding the use of frozen Russian assets to support Ukraine. On Thursday, he emphasized that Belgium's concerns are being taken seriously. "These matters are important, and we need to discuss them. I will make every effort to resolve them," Merz stated.

A Berlin government spokesperson confirmed that Merz postponed his planned trip to Norway to meet in Belgium with Prime Minister Bart de Wever and European Commission President Ursula von der Leyen.

Merz highlighted the need for EU leaders to adopt a unified stance, particularly reaching an understanding with Belgium. The Friday dinner discussions in Brussels are expected to center on the European Commissions proposal for utilizing Russian assets frozen within the EU to assist Ukraine. "I aim not just to persuade, but to demonstrate that the approach we propose is the correct one, and that it will benefit Ukraine," he added.

The Russian central bank assets held by the Belgian financial institution Euroclear are estimated at approximately 185 billion ($215.6 billion). Belgium has repeatedly called for other EU countries to participate in managing these funds to reduce the risk of being the sole target of potential retaliatory actions. Merz mentioned that Germany could act as one of the "guarantor states" to protect the assets in Brussels.

EU officials indicate that the commission is working to release frozen Russian assets in Belgium, Germany, and other member states to provide Kyiv with a loan of up to 210 billion ($245 billion) for reparations. De Wever reiterated in parliament that Belgium will "not take on unreasonable risks."

Originally, Merz was scheduled to visit Oslo on Friday to meet King Harald V and Crown Prince Haakon at the Royal Palace and hold talks with Prime Minister Jonas Gahr Stre.

Author: Harper Simmons