“At a meeting in Copenhagen, EU leaders were unable to make progress in discussing the use of Russian assets frozen in Europe for the amount of 140 billion euros to assist Ukraine, Financial Times reports. Belgium demands to share the risks with other EU countries and to provide legal protection in case of claims by Moscow. France and Luxembourg also expressed fears of legal consequences. Other leaders in general agreed with the principle of use of funds, but instructed the European Commission to develop legal and financial details. According to Financial Times, the scale of this work makes it unlikely to submit a ready -made offer to the next summit in Brussels in three weeks. In parallel, the issue of transferring Russian assets was discussed at the online meeting of the Finance Ministers of the Seven Group. Representatives of the EU countries in the Association tried to convince partners also to connect to the initiative. Politico notes that the European Central Bank is afraid of falling trust in the euro, but steps to meet the US and Japan could mitigate the consequences. Earlier, German Chancellor Friedrich Merz supported the idea of transferring 140 billion euros to Ukraine because of the mechanism of non -duty bonds and a repair loan. On September 30, Russian President Vladimir Putin, in turn, signed a decree on a new order of sale of federal assets. According to Bloomberg, Russia is ready to nationalize and quickly sell foreign assets in response to a possible withdrawal of its funds abroad. Read also: A new idea of using Russian frozen assets in Ukraine. What is the EU dilemma? EU leaders discussed the idea of providing Ukraine with a reparation loan, which will be funded by frozen Russian assets. The idea of providing Ukraine with a loan is to transfer this cash to the EU, which will “conclude an individual debt contract with Euroclear under 0% per annum.” Brussels will use these funds to finance the loan to Ukraine, which she in turn will return only in the case of compensation for the damage caused to it by Russia.”, – WRITE: www.radiosvoboda.org
Belgium demands to share the risks with other EU countries and to provide legal protection in case of claims by Moscow. France and Luxembourg also expressed fears of legal consequences.
Other leaders in general agreed with the principle of use of funds, but instructed the European Commission to develop legal and financial details. According to Financial Times, the scale of this work makes it unlikely to submit a ready -made offer to the next summit in Brussels in three weeks.
In parallel, the issue of transferring Russian assets was discussed at the online meeting of the Finance Ministers of the Seven Group. Representatives of the EU countries in the Association tried to convince partners also to connect to the initiative. Politico notes that the European Central Bank is afraid of falling trust in the euro, but steps to meet the US and Japan could mitigate the consequences.
Earlier, German Chancellor Friedrich Merz supported the idea of transferring 140 billion euros to Ukraine because of the mechanism of non -duty bonds and a repair loan.
On September 30, Russian President Vladimir Putin, in turn, signed a decree on a new order of sale of federal assets. According to Bloomberg, Russia is ready to nationalize and quickly sell foreign assets in response to a possible withdrawal of its funds abroad.
Read also: The new idea of using Russian frozen assets in Ukraine. What is the EU dilemma?
EU leaders discussed the idea of providing Ukraine with a reparation loan, which will be funded by frozen Russian assets. The idea of providing Ukraine with a loan is to transfer this cash to the EU, which will “conclude an individual debt contract with Euroclear under 0% per annum.”
Brussels will use these funds to finance the loan to Ukraine, which she in turn will return only in the case of compensation for the damage caused to it by Russia.