Germany unlikely to confiscate Russian assets - expert

The German leadership is unlikely to confiscate Russian assets in the country because of the possibility of mirror steps.

This opinion was expressed by Stefan Meister, an expert at the German Council on Foreign Relations (DGAP), in a conversation with an Ukrinform correspondent.

The expert acknowledged that the topic is being discussed more and more in Germany, and there are certain people who call for the confiscation of Russian assets. However, he believes that since this issue concerns property aspects and will have legal consequences beyond the borders of one state, the German Chancellor will be against it.

Chancellor Olaf Scholz, as a person with an economic background, as a former finance minister, is very skeptical of such decisions. Germany is likely to block such a decision also because the Russians could then take action against German assets, and they are definitely ready for that, Meister explained.

He doubts that the supporters of this approach will win even if this option is discussed in Germany.

Stefan Meister is also skeptical that the United States, where such a possibility is currently being discussed, will actually take such steps.

As Bloomberg reported, the administration of U.S. President Joe Biden supports a bill that would confiscate about $300 billion in frozen Russian assets and use the money to rebuild Ukraine.

As Ukrinform reported, as of the beginning of December 2023, Russian assets worth more than €4 billion were blocked in Germany. The German Ministry of Finance clarifies that this includes frozen money, economic resources of individuals, blocked money of the Russian central bank, etc. In addition, the German Federal Public Prosecutor's Office has filed a lawsuit for the confiscation of more than €720 million of Russian funds in one case. Although in this case it is not a question of confiscation of wealth as such, but of penalties based on violations of the law on foreign trade.