Germany has officially announced that the conversation surrounding the further seizure of frozen Russian assets to support Ukraine has concluded. German Foreign Minister Johann Wadephul made this declaration during a joint press conference with Belgian Foreign Minister Maxime Prevot, emphasizing that the issue is no longer on the European Union's agenda. This marks a significant pivot from earlier positions where the idea of using frozen assets was considered more seriously by some member states.

The backdrop of this conversation includes the fact that approximately $300 billion in Russian sovereign assets were frozen by Western nations in response to Russia’s actions in Ukraine since the escalation of the conflict in 2022. Most of these assets are stored in the Euroclear depository located in Belgium. Belgium has been notably opposed to the notion of outright seizing these assets, with Prime Minister Bart De Wever suggesting that such an action would constitute a 'declaration of war' against Russia. This sentiment reflects the complex balancing act EU nations face in supporting Ukraine while maintaining stable relations with Russia.

Furthermore, the EU had previously considered utilizing these frozen funds as collateral for a reparations loan to Ukraine but was unable to reach consensus in December due to opposition led by Belgium and other countries. Moving forward, Wadephul indicated that there are alternative methods and instruments available to fund Ukraine's needs, suggesting a refocused strategy that does not hinge on the controversial issue of asset seizure and instead looks towards other financial mechanisms for support.