Merz, the German chancellor, said yesterday that the core elements of a new 28-point US plan on fiscal arrangements were“Unacceptable”.
Speaking after a summit of G20 leaders, Merz said the US had no right to access Russian central bank assets frozen in the EU. Moreover, the idea of asking for an extra $100BN in European funds can not be accepted in Berlin.
Merz said the EU had so far planned to use Russian assets frozen in the EU to provide loans to support further arms purchases.
It is understood that the U. S. Plan calls for 100 billion U. S. dollars of frozen Russian assets into the U. S.-LED reconstruction projects in Ukraine, and stipulates that the United States should receive 50% of the proceeds.