“Politico: European Commission presents proposal for a €140 billion loan for Ukraine using Russian cashThe European Commission proposes that EU member states use sanctioned Russian funds to finance a new €140 billion loan for
Ukraine. This loan will be issued in tranches and used for defense cooperation and to support Ukraine’s budgetary needs.
”, — write: unn.ua
Details”The European Commission has proposed using sanctioned Russian cash to finance a new 140 billion euro loan for Ukraine” in a memo seen by Politico. The idea was presented to the capitals of the bloc’s member states ahead of a meeting of EU ambassadors today, where they will lay the groundwork for a meeting of European leaders next week in Copenhagen, the publication writes.
The general plans have been informally discussed for weeks. Ukraine will repay the loan only after Russia ends the war and pays post-war reparations. If this happens, the EU will return the funds to Euroclear, the Belgian financial firm that holds these assets, according to the memo.
The European Commission stated that “the loan is to be issued in tranches and used for ‘defense cooperation’ as well as to support Kyiv’s ordinary budget needs.” It also “proposed changing the rules for renewing sanctions from unanimity to qualified majority to reduce the risk of Hungary blocking the process and returning assets to Russia,” the publication notes.
German Chancellor Friedrich Merz supported the idea in an article in the Financial Times on Thursday, although he stated that the loan should only finance military aid.
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Sanctions are also being discussed at today’s Coreper II meeting, as the Danish presidency rushes to prepare the 19th package for the EU leaders’ summit in Copenhagen, the publication writes.
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