German Chancellor Friedrich Merz stated that he aims to make a decision regarding the use of frozen Russian assets within the European Union to support Ukraine during the current month of October.

Following the European summit held today Thursday in Copenhagen, the German Chancellor said: “We will now carefully study the matter, and most likely a concrete decision will be made within three weeks at the next European Council meeting.”

Merz had proposed using these assets as guarantees for loans worth 140 billion euros, aiming to enable Ukraine to strengthen its defensive capabilities against the Russian attack. However, there are strong objections, especially in Belgium where the majority of the frozen assets of the Russian central bank within the EU are held.

Nevertheless, Merz said he left the Copenhagen summit “with a firm feeling that there is broad consensus within the European Union and also in the European political community” on using the Russian assets to support Ukraine.

The Christian Democratic Party leader added: “I will support any path that allows the use of Russian assets to continue helping Ukraine and work towards ending this war as soon as possible.”

It is noted that the next European summit will be held in Brussels on the 23rd and 24th of this month.