Latest news with #ThorstenFrei
Yahoo
3 days ago
- Business
- Yahoo
Germany urges closer look at confiscating Russian assets for Ukraine
Thorsten Frei, Head of the German Chancellery, has called for renewed discussions in the West on confiscating frozen Russian state assets, citing Russia's refusal to pursue peace with Ukraine. Source: Thorsten Frei in an interview with Frankfurter Allgemeine Sonntagszeitung, as reported by European Pravda Details: Frei argued that "a sense of justice" supports confiscating Russian assets frozen in the West, given "the enormous damage and human suffering that Russia inflicts on Ukraine". Quote from Frei: "We are now experiencing the heaviest bombing since the start of the war. Therefore, it is fair that Russian funds be used for necessary defence measures." Frei acknowledged concerns that confiscation could deter foreign investment in the EU or Germany. Quote from Frei: "You cannot make an unambiguous decision. But we are in a situation where I say: we must consider the issue of Russian state funds even more carefully than before. We cannot allow Russia to play games with us all." Read also: Compensation not for Ukraine. Why confiscated Russian assets may never reach Kyiv In 2022, following Russia's full-scale invasion of Ukraine, the US and its allies froze approximately US$300 billion in Russian state assets. European leaders aim to use these assets to support Ukraine's reconstruction but have yet to agree on a legally sound method to avoid setting a problematic international precedent. Background: German Chancellor Friedrich Merz has previously stated he supports confiscating these assets, provided it can be done legally. Support Ukrainska Pravda on Patreon!
Yahoo
3 days ago
- Business
- Yahoo
Using Russian assets for Ukraine aid needs 'closer look,' German official says
A German official has called on the European Union to take a "closer look" at the issue of frozen Russian assets and using them to support Ukraine, stressing the need to take a harder stance against the Kremlin. Thorsten Frei, Head of the German Chancellery, stated in an interview with the Frankfurter Allgemeine Sonntagszeitung on May 31 that the EU should "take a much closer look at the issue of Russian state funds than we have so far." He also urged the EU to take a more assertive position against Moscow, adding that "we must not allow the game that Russia is playing with us to go unchallenged." The question of frozen Russian assets, and what to do with them, has been discussed by the EU and other Western countries since the start of the full-scale invasion. Recently, the Group of Seven – including Germany – pledged to keep Russian assets frozen until the end of the war. Frei's comments suggest that Germany's new Chancellor Friedrich Merz may be open to the idea of seizing the approximately €200 billion ($227 billion) in Russian state assets in the EU. Frei also mentioned the 18th package of EU sanctions currently under preparation, citing them as an example of tougher measures against Russia. According to Frei, the upcoming sanctions are a response to Russian President Vladimir Putin's refusal to comply with demands for a ceasefire. "Measures are being prepared that are tougher than before, and which some European states have therefore shied away from so far," Frei said, stressing that the sanctions package will have "far-reaching punitive measures." Frei added that the sanctions package will target Russia's shadow fleet, energy sector, financial sector, and Nord Stream pipelines. "If you want to achieve a ceasefire by peaceful means, then your tools are limited," Frei said. "That is why I am very much in favor of using the tools at your disposal." Read also: Senate to 'start moving' Russia sanctions bill next week, Graham says We've been working hard to bring you independent, locally-sourced news from Ukraine. Consider supporting the Kyiv Independent.
Bloomberg
4 days ago
- Business
- Bloomberg
Russian Assets Deserve Closer Look, German Official Tells FAS
The European Union should revisit the question of how hundreds of billions of euros in frozen Russian assets can be used to finance Ukraine, a top German official said. 'We should look at the issue of Russian state funds much more closely than we have been doing,' Chancellery head Thorsten Frei said in an interview with Frankfurter Allgemeine Sonntagszeitung published on Saturday. 'We must not allow Russia to get away with the game it's playing with us all.'
The Star
22-05-2025
- Business
- The Star
New German chancellery chief calls for tougher Russia sanctions
German Minister for Special Tasks and Head of the Federal Chancellery Thorsten Frei speaks during an interview with Reuters, in Berlin, Germany, May 21, 2025. REUTERS/Liesa Johannssen BERLIN (Reuters) -Europe needs to step "out of its comfort zone" and consider much tougher sanctions on Russia, such as bans on gas or uranium, or tapping into frozen Russian state assets, Thorsten Frei, the chief of staff of Germany's new chancellor, told Reuters. The EU and Britain announced new sanctions against Russia on Tuesday over its invasion of Ukraine, zeroing in on Moscow's "shadow fleet" of oil tankers and financial firms that have helped it avoid the impact of other sanctions. The next round of EU sanctions - currently being prepared - must be strong, including even some measures that might impact other EU states, Frei said in an interview at his new office in the chancellery. "We must step out of our comfort zone and adopt measures that truly go beyond the status quo," the conservative politician said. Asked if that meant European import bans on gas or uranium and tapping into frozen Russian state assets, Frei said: "These are exactly the kinds of measures that would really hurt Russia - and thus achieve the impact we actually intend with sanctions." Frei also endorsed calls for sanctions on the Nord Stream gas pipeline through the Baltic Sea. Chancellor Friedrich Merz, who took office this month, said last week Germany and its allies would move to confiscate frozen Russian assets if legally possible. Discussions about sanctions on Russian energy are ongoing, Merz said. After Russian President Vladimir Putin refused to accept Europe's call for a ceasefire, however, the tone in Berlin seems to be hardening further. "I strongly support going down this path because we have seen in the past that Russia essentially only accepts, acknowledges, and understands clear language." 'PLAYING FOR TIME' Frei accused Putin of having no intention of seeking peace noting that even during peace talks last week with Ukraine in Istanbul Russia's attacks "continued unabated - they even intensified". "He's playing for time," Frei said of the Russian leader. Putin wants to create military facts on the ground, he added, and clearly expects to achieve his war aims militarily: "These are not exactly the best conditions for a quick peace." Frei said he could not rule out the possibility that Germany might increase its military aid for Ukraine from €7 billion ($8 billion) in the draft budget for this year. He did not say by how much the aid might increase. ($1 = 0.8830 euros) (Writing by Sarah MarshEditing by Gareth Jones)
Yahoo
22-05-2025
- Politics
- Yahoo
Germany urges EU to step "out of its comfort zone" to ramp up sanctions on Russia
The chief of staff to Germany's new chancellor, Thorsten Frei, has called on Europe to step "out of our comfort zone" and impose tougher sanctions on Russia, such as banning gas and uranium imports and tapping into frozen Russian state assets. Source: Thorsten Frei in an interview with Reuters, as reported by European Pravda Details: Frei stated that the 18th package of sanctions against Russia, preparation for which has begun after the adoption of the 17th package on 20 May 2025, should be robust and even include measures that might impact other EU countries. "We must step out of our comfort zone and adopt measures that truly go beyond the status quo," he said. When asked if this included banning Russian gas or uranium imports to Europe and tapping into frozen Russian state assets, Frei responded: "These are exactly the kinds of measures that would really hurt Russia – and thus achieve the impact we actually intend with sanctions." German Chancellor Friedrich Merz accused Kremlin leader Vladimir Putin of lacking intent to seek peace, noting that during peace talks with Ukraine in Istanbul last week, Russia's attacks "continued unabated – they even intensified." "He's playing for time," Frei said of Putin, adding that the Russian leader expects to achieve his military goals through force. Frei also noted that Germany cannot rule out increasing military assistance to Ukraine beyond the €7 billion [US$7.7 billion] allocated in this year's draft budget. Background On 20 May 2025, the EU Council approved the 17th package of sanctions against Russia for its war against Ukraine, alongside separate sanctions for Russia's use of chemical weapons against Ukraine. The Council of the EU also detailed additional personal sanctions in response to Russia's hybrid destabilising activities against EU countries and their partners. These sanctions are part of a series of packages prepared for approval on 20 May. Support Ukrainska Pravda on Patreon!
