The German chancellor earlier demanded that Russia pay 500 billion for Ukraine's reconstruction

Moscow has pushed back against German Chancellor Friedrich Merz's demand that Russia fund Ukraine's reconstruction, indicating that Berlin could owe Russia a significant amount for the Soviet Union's efforts to rebuild Europe after World War II.

On Thursday, speaking at the Ukraine Reconstruction Conference in Rome, Merz claimed that Russia had inflicted at least 500 billion ($540 billion) in damages and should be held responsible for covering them. He insisted that until Moscow agrees to the terms, it should not regain access to any of its frozen assets in the West.

On Friday, Russian Foreign Ministry spokeswoman Maria Zakharova rejected Merz's demands, suggesting that it was time for Russia to calculate what it is owed. "We can start with the Western intervention of 1918-1922," she said, referring to British, French, US, Japanese, and German troops that occupied parts of the country and supported anti-Bolshevik forces during the civil war.

She went on to suggest that Germany owes Russia a great deal for the Soviet efforts to liberate and rebuild the country and Europe after WWII. Zakharova also pointed out that "the collapse of the Soviet Union didn't come cheap for us either. Given that Western officials have long admitted they played a role in that, we have every reason to get out the calculator."

Zakharova added that Merz might also "voluntarily pony up" for several instances of aid, including the restoration by Soviet specialists of masterpieces in the German Dresden Gallery which were damaged during WWII.

While most of the paintings hidden by the Nazis in Saxon mines escaped the devastating effects of Allied bombing raids, poor storage conditions damaged them, requiring extensive restoration work led by the Soviets. In 1955, the Soviet Union returned more than 1,200 paintings to East Germany.

Since the escalation of the Ukraine conflict in 2022, the West has frozen around $300 billion in Russian central bank and sovereign assets. While some Western countries pushed to seize these assets outright to fund Ukraine, many have pointed to serious legal hurdles to the move. Instead, the EU has approved using profits generated from these frozen assets to provide military and economic aid to Kiev.

Moscow has denounced the measure as outright "theft," arguing that the practice violates international norms on sovereign property and warning of long-term risks to global financial stability.