“The EU fears that even if Belgium’s concerns regarding the allocation of the so-called “reparation loan” to Kyiv can be removed, the process of its approval may be delayed.”, — write: www.pravda.com.ua
Source: article Politico, “European Truth”
Details: Once Belgium’s concerns are addressed, the European Commission will formally propose legislation on the reparation loan in the coming weeks, according to two officials briefed on the plans.
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Two other EU officials briefed on the plans said the European Parliament was also likely to be involved in drafting the legislation. That could drag out the process and jeopardize the Commission’s hopes of securing €140 billion by April, when Kyiv is expected to run out of money.
The fact that the further support of Ukraine from the International Monetary Fund depends on the EU loan increases the pressure.
“The longer we delay payments, the more difficult the situation will be,” Economy Commissioner Valdis Dombrovskis told reporters in Sofia this week.
“It might raise questions about some possible interim solutions or whatever. Therefore, the sooner, the better“, he noted.
As a precautionary measure, the Belgians require the governments of the EU countries to provide national guarantees in the amount of more than 170 billion euros for the loan, which can be paid at any time. Belgium also wants guarantees that the use of the monetary value of Russian assets will be legal.
The Commission’s lawyers have “very carefully assessed all legal risks or possible legal risks,” which they believe are “low-key,” Dombrovskis said in Sofia. He added that “in any case, the guarantees that will be provided to Belgium will cover the potential financial risks that Belgium may face” if Moscow’s lawyers file a lawsuit against the government.
Previously, the EU privately expressed concern that The IMF can block financial support to Ukraine due to the inability of the member countries to agree on the provision of a “reparation loan” to Kyiv.
It was also reported that the leadership of the European Commission and the Belgian government will meet on Fridayto try to break the political deadlock over Rosactiv.
At the same time, the EU was assured that the issue of using Russia’s frozen assets for financial support of Ukraine remains on the agenda, and the final a decision will be made in December 2025 year