Merz rejects US control over frozen Russian assets

German Chancellor Friedrich Merz stated that Russian assets frozen in Europe must remain under European control, rejecting a US proposal to transfer them to Washington. He said Europeans should decide their fate. Speaking before the European Council meeting in Brussels on October 15, Merz emphasized: "These are assets frozen in Europe – and they must remain frozen in Europe. This is our matter, and we make the decision." The US had reportedly proposed unfreezing part of Russian sovereign assets for a Washington-controlled financial structure to revive peace talks. The EU summit on October 15-16 does not include the frozen assets issue on its agenda, nor additional Ukraine funding decisions. Earlier, the Council of Europe's Parliamentary Assembly suggested transferring Russian funds to Ukraine based on European Court of Human Rights rulings.