“The European Central Bank did not support providing Ukraine with 140 billion euros as collateral for frozen Russian assets.”, — write: www.pravda.com.ua
Source: “European truth” with reference to FT
Details: The publication writes that the ECB has concluded that the European Commission’s proposal violates its mandate.
Advertising:
According to four interlocutors, officials asked the bank to act as a creditor for Euroclear Bank to avoid a liquidity crisis. According to three sources, the ECB ruled that impossible, concluding that the European Commission’s proposal was equivalent to providing direct funding to governments, as the regulator would cover member states’ financial obligations.
In response to the regulator’s stance, the European Commission has begun work on alternative proposals that would provide temporary liquidity to support the €140bn loan, two sources told the FT.
Belgium opposes the use of frozen Russian assets for a loan to Ukraine.
Belgium believes that the scheme of providing Ukraine with “reparation loans” lobbied by the European Commission with the use of frozen assets of Russia is initially incorrect and does not take into account the warnings of the Belgian authorities.
Earlier, the media reported that European countries are developing a “plan B” in case they cannot agree on the use of frozen Russian assets to provide a reparation loan to Ukraine, so that the country is not left without funding at the beginning of 2026.