Sweden supports EU plan to use frozen Russian assets for Ukraine, - Bloomberg
Swedish Finance Minister Elisabeth Svantesson said that the European Union should promote the proposal to use frozen Russian assets for the benefit of Ukraine, as there are no other effective options for assistance.
This was reported by Censor.NET with reference to Bloomberg.
Svantesson stressed that Sweden is ready to do everything possible to convince all EU countries to support this plan. According to her, despite the ongoing war, some countries remain cautious and are not ready to finance Ukraine to the same extent as the countries of Northern Europe or the Baltic states.
The EU is currently working on creating a so-called "reparation loan" – a mechanism that will allow up to €185 billion in frozen Russian assets to be used to cover Ukraine’s budgetary needs and part of its military expenses.
The plan has legal complications, as the EU wants to avoid direct confiscation of funds so as not to damage its financial system and the reputation of the euro. The European Commission also proposes to change the procedure for extending the freezing of assets, adopting decisions by a qualified majority to avoid a veto by individual countries, in particular Hungary.
It is expected that Ukraine will begin to repay the loan only after the war ends and reparations are received from Russia.
