**To Appease Belgium Concerned About Becoming a Russian Target**
In a move to accommodate Belgium’s concerns, German Chancellor Friedrich Merz reportedly announced plans to use Russia’s frozen assets held by Germany to support Ukraine, according to dpa communication on the 18th local time.
The decision, shared through diplomatic sources, is said to accommodate Belgium’s demands. The European Union (EU) summit is scheduled to take place in Brussels, Belgium, from the 18th to the 19th and is expected to discuss a compensation loan plan aimed at supporting Ukraine with up to 210 billion euros (approximately 363 trillion won), backed by Russian assets.
The significant portion, almost 185 billion euros, is held by the Belgian Central Securities Depository (CSD) Euroclear. Consequently, Belgium is wary of potential retaliation from Russia and opposes the compensation loan plan.
To avoid being the sole target of potential Russian reprisals, Belgium has insisted on the participation of all EU nations in the fundraising plan. Therefore, Germany’s decision may help alleviate some of Belgium’s concerns.
However, the scale of Russia’s frozen assets in Germany is relatively small, reported to be about 3 million euros. The exact amount has not been disclosed by the German government.
According to the communication, Russia’s frozen assets are located not only in Belgium and Germany but also in France, Sweden, Cyprus, and Luxembourg, with the majority available funds reportedly held in France.