Merz says frozen Russian assets must stay in Europe amid reported US proposal

​Billions of euros' worth ​of Russian assets frozen in ‌Europe after ​the invasion of Ukraine should stay under the region's control, German Chancellor Friedrich Merz ‌said on Thursday, after a report that the US may seek supervision over some.

"Those are assets that are frozen in Europe and ‌they should remain frozen in Europe. This is our business ‌and we are deciding over it," Merz said in Brussels ahead of an EU summit. The Financial Times on Wednesday cited people briefed on the matter ⁠as saying ​the US ⁠has proposed the transfer of some assets to a vehicle overseen by Washington ⁠in a bid to revive peace talks.

The FT said European delegates rebuffed ​the plan, which was pitched by US special envoy Steve ⁠Witkoff and President Donald Trump's son-in-law Jared Kushner. Reuters could not immediately verify the ⁠report.

European ​Union countries immobilised some €210 billion ($235.73 billion) of Russian central bank assets after Moscow invaded Ukraine in February 2022. Around €185 billion ⁠of this is held in Brussels-based central securities depository Euroclear.

Some European nations ⁠want ⁠the Russian assets to be disbursed on behalf of Ukraine. ($1 = 0.8909 euros)