“The US and the EU are allegedly approaching an agreement on the specific conditions for providing Ukraine with $50 billion in financial aid using the profits of the frozen assets of the Russian Federation, the general idea of which was agreed upon in June at the meeting of the leaders of the Group of Seven.”, — write: www.epravda.com.ua
The United States and the European Union are allegedly approaching an agreement on the specific conditions for providing Ukraine with $50 billion in financial aid using the profits of the frozen assets of the Russian Federation, the general idea of which was agreed upon in June at the meeting of the leaders of the Group of Seven.
As “European Truth” writes, this is reported by Bloomberg.
According to journalists, the US plans to participate in the loan in any case, but the extent of its participation will depend on whether the EU changes its sanctions legislation to have more guarantees that Russian assets will continue to be frozen.
The states are allegedly ready to provide $20 billion from the total if such changes to the sanctions regime are made.
If the EU fails to do so, the US will still join, but the amount of the contribution will be smaller, knowledgeable interlocutors told journalists.
We will remind you that it is about financial assistance for 50 billion dollarsin the provision of which the EU, USA, Canada, Japan and Great Britain should take part. They plan to pay off the loan using the proceeds from $280 billion of frozen assets of the Russian Federation, most of which are located in Europe.
The new 50 billion from the G7 will be an addition to the already existing package of macro-financial support from the EU for 50 billion euros, which will be allocated gradually during 2024-2027 and “tied” to the reform plan.
Initially, the US and the EU agreed to contribute 20 billion each, but later Washington began to ask the European Union for safeguards that would provide greater predictability of income from Russian assets, as EU sanctions now need to be reviewed and extended every six months.
Earlier in the mass media there were already reports that the EU begins to prepare “plan B” with a larger share of the European contribution in case Washington does not participate in the scheme.
However, the EU’s willingness to increase its share of the contribution allegedly met with displeasure from key capitals – Germany, France and Italy – when the issue was discussed at a meeting of EU ambassadors in Brussels on Wednesday.
The European Commission is of the position that it is best to extend the period when the sanctions are reviewed and extended, and to ensure the participation of the United States. However, Hungary continues to oppose any decisions, insisting that it must first wait for the results of the US elections.
The European Commission allegedly warned member states that the US could join the initiative even after the elections, but the EU, for its part, must complete all the “paper” work by the end of October.
One interlocutor claims that the G7 plans to finalize intentions on the loan at a ministerial meeting on October 25.
European truth