European Commission proposes using frozen Russian assets to provide Ukraine with €140 billion loan, - Politico
The European Commission has presented EU member states with the idea of using frozen Russian assets to finance a new €140 billion loan for Ukraine.
This was reported by Censor.NET, citing a document obtained by Politico.
According to the publication, the proposal was sent to national capitals ahead of a meeting of EU ambassadors on Friday. They will prepare the groundwork for next week's summit of European leaders in Copenhagen.
The plan stipulates that Ukraine will begin repaying the loan only after the war ends and Russia pays reparations. In this case, the EU will compensate the expenses of Euroclear, a Belgian financial institution where Russia's frozen assets are held.
According to the document, the loan is to be provided in tranches and used both for defense needs and to finance Kyiv's regular budget expenditures. The European Commission also proposed changing the rules for extending sanctions from unanimous voting to a qualified majority to avoid blocking, particularly by Hungary.
