Germany pressing Belgium on frozen Russian assets

German Chancellor Friedrich Merz attends a joint press conference with Slovenia’s Prime Minister Robert Golob at the chancellery in Berlin, Nov. 28, 2025. (AP)
Short Url
Updated 28 November 2025
Follow

Germany pressing Belgium on frozen Russian assets

  • Merz said: “The use of Russian assets is, in my opinion, an appropriate instrument“
  • Merz underlined the urgent need to apply “maximum pressure” on Russia and dismissed threats of reprisals from Moscow

BERLIN: German Chancellor Friedrich Merz said Friday he is pressing the Belgian government to come to an agreement with the EU to use frozen Russian assets to fund Ukraine.
The European Commission and multiple EU member states want to use immobilized Russian central bank assets to provide Kyiv with loans but Belgium, which hosts international deposit organization Euroclear, fears such a move could expose it to crippling legal and financial reprisals from Moscow.
Speaking at a press conference alongside his Slovenian counterpart Robert Golob, Merz said: “We must do everything we can to bring this war to an end and the use of Russian assets is, in my opinion, an appropriate instrument.”
He said that he was in contact with Belgian Prime Minister Bart De Wever on the issue.
“I understand his concerns, he has good arguments but we also have good arguments about reaching our common goal,” he said.
“We are looking for a joint solution with the Belgian state and also with Euroclear so that we can decide on this within the EU with the widest consensus possible.”
EU leaders have proposed using the Russian assets to provide Kyiv with a 140-billion-euro ($162 billion) loan to plug looming budget black holes.
Out of 235 billion euros’ worth of such assets in the EU as a whole, around 210 billion are held by Euroclear.
Merz underlined the urgent need to apply “maximum pressure” on Russia and dismissed threats of reprisals from Moscow.
Such pronouncements from Moscow are “a repeated ritual,” Merz said: “We will not be swayed by them.”


Canada PM Carney says can’t rule out military participation in Iran war

Updated 55 min 12 sec ago
Follow

Canada PM Carney says can’t rule out military participation in Iran war

  • Carney had said the US-Israeli strikes on Iran were “inconsistent with international law”
  • However, he supports the efforts to stop Iran from obtaining a nuclear weapon

CANBERRA, Australia: Canadian Prime Minister Mark Carney said Thursday that he couldn’t rule out his country’s military participation in the escalating war in the Middle East.
Carney’s visit to Australia this week has been overshadowed by expanding war in the Middle East, sparked by a massive US-Israeli strike on Iran that killed its supreme leader, Ayatollah Ali Khamenei.
Speaking alongside local counterpart Anthony Albanese in Canberra, Carney was asked whether there was a situation in which Canada would get involved.
“One can never categorically rule out participation,” he said, while stressing the question was a “hypothetical” one.
“We will stand by our allies,” said Carney, adding that “we will always defend Canadians.”
Carney had said the US-Israeli strikes on Iran were “inconsistent with international law.”
However, he supports the efforts to stop Iran from obtaining a nuclear weapon — a position that Canada takes “with regret” as it represented “another example of the failure of the international order.”
The Canadian leader reiterated on Thursday his call for a “de-escalation” of the conflict.
Carney’s trip is part of a multi-country tour of the Asia-Pacific aimed at reducing reliance on the United States — a hedge against what he has described as a fading US-led global order.
The Australia leg of the tour is aimed at bringing in investment and deepening ties with a like-minded “middle power” partner.

‘Middle power’ rallying cry

On Thursday morning he issued a rallying cry in Australia’s parliament to “middle powers,” urging them to work together in an increasingly hegemonic world order.
Nations like Australia and Canada faced a stark choice — work together to help write the “new rules” of the global order or have great powers do it for them, he said.
“In this brave new world, middle powers cannot simply build higher walls and retreat behind them. We must work together,” he said.
“Great powers can compel, but compulsion comes with costs, both reputational and financial,” the former central banker added.
“Middle powers like Australia and Canada hold this rare convening power because others know we mean what we say and we will match our values with our actions.”
The Canadian leader also said the two countries would together as “strategic collaborators” to pool their vast combined rare earth mineral resources.
And he detailed renewed cooperation in areas from defense to artificial intelligence.
“We know we must work with others who share our values to build solid capabilities,” he told parliament.
Otherwise, he warned, they risked being “caught between the hyperscalers and the hegemons.”
The Canadian leader has frequently clashed with US President Donald Trump, who has repeatedly threatened to annex Canada and slapped swingeing tariffs on the country.
In a speech to political and financial elites at the World Economic Forum in January, Carney warned the US?led global system of governance was enduring “a rupture.”