Germany’s Chancellor Friedrich Merz and Belgian Prime Minister Bart De Wever have cautioned against seizing frozen Russian central bank assets in Europe, citing legal concerns. The two leaders spoke out during a joint press conference in Berlin on Tuesday.
Merz, with a background in corporate law, warned that seizing the funds could lead to other countries withdrawing their capital from the continent due to fears of illegality. He also cited potential impacts on capital markets if such assets were seized.
De Wever echoed these concerns, stating that ignoring the immunity granted to Russian central bank funds could have far-reaching consequences for European economies.
The move comes as more than €200 billion in Russian central bank assets are frozen in response to Russia’s invasion of Ukraine. The interest payments from these funds are used to assist Ukraine, but the capital itself remains untouched.
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Source: https://www.dw.com/en/germany-updates-merz-de-wever-wary-of-russian-fund-seizure/live-73765716