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EU will present legislative proposal to unblock "reparations loan" to Ukraine, - von der Leyen
The European Union will present a legislative proposal in the coming days that will allow Russia's frozen assets to be used to provide Ukraine with a €140 billion "reparation loan."
This was reported by Censor.NET with reference to Bloomberg.
During a plenary session of the European Parliament in Strasbourg, European Commission President Ursula von der Leyen said that Brussels is ready to present the relevant text. "I don't see any scenario where European taxpayers will be the only ones footing the bill," she stressed.
According to the publication, people familiar with the situation say that the document on the further mechanism for adoption and implementation is planned to be made public in the coming days.
Russian assets to help Ukraine
- Earlier, European Commission President Ursula von der Leyen proposed using frozen Russian assets as collateral for providing Ukraine with "reparation loans". Formally, Russian assets subject to sanctions will not be confiscated, but Ukraine will repay such loans only after Russia pays reparations.
- According to various estimates, the European Union's "reparations loan" to Ukraine, secured by Russian assets, could amount to €130-140 billion. Its final size will be determined after the International Monetary Fund assesses Ukraine's financing needs in 2026 and 2027.
- In total, Euroclear currently holds more than €175 billion in cash from frozen Russian assets, which could be used to secure a new loan. But before the EU agrees to grant a reparations loan, it will want to repay the G7 loan to Ukraine of €45 billion ($50 billion) agreed last year, which was to be repaid from the proceeds of frozen Russian assets.
