**Russian Assets: A Pawn in the Game of Ukraine’s Reconstruction**
As the world continues to grapple with the devastating consequences of Russia’s war on Ukraine, the West has frozen billions of dollars in Russian assets. Now, German Chancellor Friedrich Merz is saying that these assets should not be released until Moscow pays back at least 500 billion euros (over $580 billion) in compensation to Ukraine.
This stance reflects a growing frustration among Western leaders with Russia’s refusal to take responsibility for its actions. The G7 countries immobilized roughly $300 billion in Russian sovereign assets at the onset of the full-scale war in 2022, later funneling the windfall profits to Ukraine’s reconstruction and defense. However, the funds have not been used as effectively as they could be, according to Ukrainian President Volodymyr Zelensky.
Merz’s comments come as a response to Zelensky’s call for European partners to form a recovery coalition to help rebuild Ukraine, similar to the post-World War II Marshall Plan. The Ukrainian president also urged Western countries to use the immobilized Russian assets more actively to support Ukraine’s reconstruction efforts. With Russia continuing to intensify strikes across Ukraine and ground offensives along the front line, damaging infrastructure and putting ever greater strain on the Ukrainian economy, it is clear that the need for effective aid has never been greater.
**A Collective Response**
The European Union has unveiled new financing worth billions of euros to support Ukraine’s reconstruction efforts. This includes the European Flagship Fund for the Reconstruction of Ukraine, which European Commission President Ursula von der Leyen called “the largest equity fund globally to support (Ukraine’s) reconstruction.” Germany is among the countries backing the fund.
The comments from Merz and Zelensky highlight a growing recognition that the reconstruction of Ukraine is not just a matter of the future, but also an urgent need in the present. The war has caused immense damage, and it is up to Western leaders to ensure that the funds are used effectively to support the people and economy of Ukraine.
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