Japan rejects EU transfer of frozen russian funds to Ukraine - Politico

Japan has refused to participate in the European Union’s proposed plan to use frozen russian assets for Ukraine’s needs. Politico reports this, citing sources.

“During a meeting of G7 finance ministers, Tokyo rejected Brussels’ request to support its plans to provide Ukraine with russian sovereign assets stored in the Belgian bank Euroclear. With this step, Japan has destroyed the bloc’s hopes of receiving global support for this initiative,” the article says.

According to the publication’s sources, Japan explained the impossibility of using frozen russian assets (about USD 30 billion) stored in the country to provide a loan to Ukraine.

“Japanese Finance Minister Satsuki Katayama ruled out the possibility of using russian assets due to legal problems,” one of the diplomats explained.

According to other sources, Tokyo's decision is influenced by "opposition from the US" to the use of frozen russian assets to finance Ukraine.

"Tokyo does not want to ignore its important ally," the sources say.

As Ukrainian News Agency earlier reported, the G7 countries are considering the possibility of confiscating all frozen russian assets for peace in Ukraine.

Meanwhile, Zelenskyy expressed hope that the EU will resolve the issue of providing a reparations loan.

On December 4, German Chancellor Friedrich Merz called on EU countries to share Belgium's risks associated with the confiscation of assets of the aggressor country, russia.