German Chancellor Friedrich Merz has postponed a Norway trip Friday for talks in Brussels on using frozen Russian assets to fund Ukraine in its fight against Russia, Berlin said Thursday.<\/p>\n
\u201cThe Chancellor\u2019s trip tomorrow to Oslo, Norway has been postponed,\u201d a government spokesman said.<\/p>\n
Merz will instead attend a private dinner with Belgian Prime Minister Bart De Wever and European Commission President Ursula von der Leyen, he added in a statement.<\/p>\n
Separately, a German government source told AFP the talks would focus on European plans, championed by Merz, to fund a loan to Ukraine by leveraging frozen Russian assets.<\/p>\n
European Union leaders have pledged to keep Kyiv afloat next year as Russia\u2019s punishing full-scale invasion drags towards a fourth year.<\/p>\n
They are looking for ways to fund a loan to Kyiv which, under the proposal, would be paid back by any eventual Russian reparations to Ukraine.<\/p>\n
Von der Leyen, head of the EU executive, said Wednesday that \u20ac90 billion ($105 billion) could be found by EU borrowing or by using Russian central bank assets frozen in the bloc.<\/p>\n
But Belgium, home to international deposit organisation Euroclear\u00a0 which holds the bulk of the Russian assets, has so far rejected the plan.<\/p>\n
\u201cWe have repeatedly said that we consider the option of the reparations loan the worst of all, as it is risky, it has never been done before,\u201d Belgian Foreign Minister Maxime Prevot said Wednesday.<\/p>\n
\u201cThis explains why we keep on pleading for an alternative, namely the EU borrowing the amounts needed on the markets.\u201d<\/p>\n
European leaders will hold a summit on the issue on December 18 and 19 in Brussels and most leaders back the EU scheme.<\/p>\n
\u201cWe support this and, of course, take Belgium\u2019s concerns seriously,\u201d German Foreign Minister Johann Wadephul said Wednesday.<\/p>\n
\u201cThey are justified, but the issue is solvable. Solvable if we stand together and are willing to take responsibility.\u201d<\/p>\n
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