“The idea of a repair loan of Kiev, based on the balance of cash of Russian assets, was proposed on September 10 by the President of the European Commission Ursula von der Lyen”, – WRITE: www.radiosvoboda.org
The idea of a repair loan of Kiev, based on the remains of Russian assets, frozen in the West after the invasion of the Russian Federation in Ukraine in 2022, was proposed on September 10 by the President of the European Commission Ursula von Der Lyen.
According to her, a loan aimed at helping Kiev in financing hostilities will be repaid only after receiving reparations from Russia as part of a peace agreement. The risk will be worn collectively Europe and maybe some other G7 countries.
Most of the Russian assets worth about 210 billion euros stored in Europe are in the Belgian Central Depository of the EuroClear securities. Officials said that 175 billion euros of assets in Euroclear have already reached the maturity and have become cash that could be the basis for a new credit.
However, officials stated that before the EU agrees to a repair loan, it will want to repay the G7 loan worth 45 billion euros ($ 50 billion), which was reached last year. According to three officials close to discussions, it will leave about 130 billion euros from the money balance for a new instrument.
According to high -ranking officials of the Ministry of Finance of the EU, specific details have not yet been agreed. The commission develops a mechanism that will allow it to use frozen Russian assets without confiscation, which is a red line for many EU governments and the European Central Bank.
Commenting on a loan of $ 50 billion, secured by Russian assets, the Ministry of Foreign Affairs of Russia expressed indignation and stated that “any encroachment on Russian state property under the cover of any far-fetched” repair mechanism “will be nothing more than the theft at the state level.”