No one vetoed use of Russian assets for Ukraine, - Costa
The European Union has not removed the issue of using Russian assets for transfer to Ukraine from its agenda.
This was stated by European Commission President Ursula von der Leyen and European Council President António Costa, according to Censor.NET, citing the EP.
"Firstly, no one vetoed anything today," Costa said.
According to him, the issue of using Russian assets was discussed during a working dinner with European Central Bank President Christine Lagarde.
"We and various leaders (of the EU) raised technical issues that need to be resolved, and that is why we asked the Commission to continue working on them and to return to this issue at the European Council meeting in December to make a final decision," he explained.
At present, Costa noted, "all technical issues can be resolved – which means that this decision is feasible."
At the same time, European Commission President von der Leyen noted that there are aspects that require clarification, deeper analysis and further work.
"In other words, we have agreed on the essence – that is, a loan for reparations – and now we need to work out the mechanism: how to implement it and which option will be best for moving forward," she explained.
Von der Leyen believes that the issue of using Russia's frozen assets "is certainly not trivial – it is extremely complex."
"If you look at the conclusions, they contain a strong statement about our commitment to meet Ukraine's needs, in particular its defence and security needs. So, the European Council has clearly expressed its commitment on this issue," she concluded.
As a reminder, earlier, Belgian Prime Minister Bart De Wever had previously outlined three key conditions for supporting the idea of a "reparation loan" for Ukraine using frozen Russian assets.
In turn, EU Chief Diplomat Kaja Kallas, following Belgium's concerns about a "reparations loan" to Ukraine using Russian assets, said that the EU would seek solutions that take these risks into account.
What is a reparations loan?
A reparations credit or loan is a new financial instrument currently being actively discussed in the EU and G7 countries as a mechanism to assist Ukraine by using frozen Russian assets.
The main source of funds is approximately $300 billion in Russian state assets frozen around the world (approximately $200 billion of which is in the EU).
The EU is considering an option whereby the proceeds from these assets (approximately €3-5 billion annually) will be used to service the debt (i.e. to pay interest and partially repay the principal).
Other countries' attitudes towards reparations loan to Ukraine
Italian Prime Minister Giorgia Meloni said that the European Union is considering possible initiatives to use frozen Russian assets to help Ukraine. She noted that Italy is not the only country that believes that "international rules and the principle of legality must be observed" when it comes to the use of frozen Russian assets.
EU ambassadors have informally agreed on draft conclusions for the European Council meeting on Thursday, which will consider the use of frozen Russian assets to provide a so-called "reparations loan" to Ukraine.
The United States has informed its European partners that it does not currently plan to join the G7 initiative on the use of frozen Russian assets for the benefit of Ukraine.
