Europe

Germany's Mertz says frozen Russian assets must stay in Europe

German Chancellor Friedrich Mertz stated frozen Russian assets worth billions of euros should remain under European control, rejecting a reported U.S. proposal.

November 6, 2026

Germany's Mertz says frozen Russian assets must stay in Europe

German Chancellor Friedrich Mertz said Thursday that frozen Russian assets in Europe valued at billions of euros should remain under the region's control, following reports that the United States may seek oversight of some of them.

Speaking in Brussels ahead of a European Union summit, Mertz stated: "These are frozen assets in Europe and they should remain frozen in Europe. This is our matter and we are the ones who decide about it."

The Financial Times reported Wednesday, citing informed sources, that the United States had proposed transferring some assets to an entity overseen by Washington as part of efforts to revive peace negotiations. According to the report, representatives from European countries rejected the plan presented by U.S. Special Envoy Steve Wittkoff and Jared Kushner, son-in-law of President Donald Trump.

Kremlin spokesman Dmitry Peskov said Russia does not have information about the proposal mentioned in the report.