Metin Hakverdi, the German government’s Transatlantic Coordinator and SPD Bundestag member, has called on EU countries to make a rapid decision regarding the frozen Russian assets amid ongoing Ukraine negotiations. These assets amount to 210 billion euros, mostly held in Belgium, representing funds of the Russian central bank. Hakverdi indicated that deploying these funds as long-term loans to Ukraine would signal Europe’s ability to act decisively.

The proposal suggests that Russia would only regain access to the funds if it agrees to pay reparations and provide full compensation after the war ends. EU leaders are expected to decide on this matter at their upcoming summit on Thursday, marking a potentially significant step in European support for Ukraine during the ongoing conflict.