Failure to give Russian assets to Ukraine would damage EU for years, Merz says

BERLIN, Dec 15 (Reuters) - Reaching a deal within the European Union on using frozen Russian assets to help Kyiv is essential to show Russia that continuing its war against Ukraine is pointless, German Chancellor Friedrich Merz said on Monday.

Members of the bloc must find a way of sharing the risks involved in appropriating and using those assets or risk causing lasting damage to the EU's reputation, he added in his speech to a Berlin business forum on Monday.

"If we don't manage this the European Union's ability to act will be massively damaged for years to come, if not for longer still," he said. "Only showing strength will end this war."