“This point is enclosed in brackets, which means that it has not yet been finally agreed upon and must be approved directly by the leaders of the EU states and governments at the summit on December 18”, — write: www.radiosvoboda.org
In particular, the clause calls on the Council of the EU and the European Parliament to urgently adopt instruments that create a reparation loan based on cash balances related to frozen Russian assets for financial support of Ukraine from the second quarter of 2026.
In the same paragraph, the principles on which the reparation loan should be based are listed in detail. Among them are full respect for the contractual obligations of financial institutions, equal treatment of all institutions that keep cash balances in the EU, solidarity and risk sharing among member states in accordance with their share in the gross national income of the EU, as well as the accounting of national guarantees as contingent liabilities without affecting the level of public debt.
Also mentioned is a coordinated approach by member states regarding their bilateral investment treaties with Russia and the possibility of ending national guarantees within the next multi-annual EU budget, coordination with the G7 countries, and the preservation of the G7 ERA credit initiative.
In addition, one of the conditions is Ukraine’s continuation of reforms in the sphere of the rule of law and the fight against corruption.
The draft conclusions remain subject to negotiations and may change during the summit.
The reparation loan is considered as a mechanism of financial support for Ukraine in the amount of up to 90 billion euros for the next two years at the expense of revenues and cash balances of frozen Russian assets, the total amount of which in Europe is estimated at about 210 billion euros.
On December 18, the leaders of 27 EU member states will gather for a summit in Brussels.