The German Green Party’s parliamentary group leader, Irene Mihalic, has indicated strong support for a mechanism allowing Ukraine to access loans of up to €140 billion utilizing frozen Russian assets. Speaking to the Redaktionsnetzwerk Deutschland (RND), Mihalic affirmed her party’s long-held stance on repurposing these assets to aid Ukraine, emphasizing the need to legally secure the process. Crucially, she insisted on robust parliamentary oversight, declaring that the Bundestag must explicitly approve Germany’s contribution to any guarantee scheme underpinning the loans.
However, the proposal faces significant skepticism within the German political landscape. Sören Pellmann, parliamentary group leader of the Left Party, voiced concerns regarding the initiative’s legal ambiguities and practical feasibility. He highlighted the potential for complicating ongoing peace negotiations, arguing that the European Union should prioritize diplomatic efforts rather than pursuing complex asset repurposing schemes.
While Pellmann acknowledged the imperative to prevent Russian President Vladimir Putin from benefiting from the frozen assets, arguing it would only embolden his actions and prolong the conflict, he stressed the need for Ukraine to receive compensatory funds allocated for civilian purposes, including national reconstruction. His criticism implicitly questions the broader strategic implications of the proposal, suggesting it risks escalating tensions rather than facilitating a resolution.
The diverging views underscore a deepening debate within Germany regarding how best to support Ukraine while navigating the legal complexities and potential geopolitical ramifications of repurposing assets belonging to a nation engaged in armed conflict. The requirement for Bundestag approval signals a potential for extended deliberation and possible modification of the proposal, highlighting the sensitive political ground upon which this initiative now rests.