Painful blow: Germany changes its mind on Russia

• Chancellor Friedrich Merz supported the use of income from Russian assets as collateral for a €140 billion loan to Ukraine.
• The loan will initially be guaranteed by EU countries and from 2028 it will be transferred to the next seven-year EU budget.
• Merz emphasizes that this amount will allow Ukraine to effectively defend itself and continue the war with Russia for years to come.

Chancellor Friedrich Merz apparently deemed the concerns unfounded and supported the idea of ​​indirectly using Russian assets , specifically the interest income they generate, as collateral for a €140 billion loan that Ukraine will receive from the European Union.

The loan will initially be guaranteed by EU member states and then transferred to the next seven-year EU budget starting in 2028. This structure will ensure that Russian assets remain effectively untouched, but after the war, they can be used to repay the loan as part of Russian war reparations.

The technical side of the matter is complex, and the details are still being worked out. However, the change in Germany's position , signaled by Chancellor Merz in an article for the Financial Times, marks a significant breakthrough in terms of the necessary political support for this project.

According to the German Chancellor, the amount of 140 billion euros will ensure that Ukraine can effectively defend itself and continue the war with Russia in the coming years.