““A key idea is that we give a guroclear instruction to invest in a European Central Bank””, – WRITE: www.radiosvoboda.org
The official cited data from the International Monetary Fund, which in 2026-2027 Ukraine requires about 52 billion euros of budget support, and this assessment does not take into account the needs of the Armed Forces.
“Therefore, the amounts are quite significant, and depending on the forecast of hostilities, they can easily increase to about 80 billion over the next two years … Failure to support support is likely to lead to the collapse of Ukraine, which, in our opinion, will pose a serious threat to Europe’s safety,” the European Commission said.
The interlocutor of journalists noted that nowadays in the EU “they cannot expect that the United States will give considerable amounts.” Therefore, Russian assets have increased to help Ukraine, and “without violating international law”.
“We believe that we have found a way to do it, and it is very important to say at once that we do not offer confiscation in any case,” the official said.
He said, to borrow funds in the Euroclear depository.
“A key idea that is to some extent very simple is that we give an instruction to Euroclear (Belgian Securities Depository – Ed.) invest in cash (accumulated through Russian bonds – ed.) In the European Central Bank… The EU will use these funds to grant Ukraine with limited regression, which means that Ukraine will have to repay the debt only after that Russia will compensate for the losses caused by military aggression, ”the official stressed.
He recalled the decision of the EU summit in October 2024, in which the leaders agreed that the assets of the Russian Federation should remain immobilized until the aggression of Russia against Ukraine continues and until Moscow will compensate for the damage caused. In such circumstances, the official stressed, the risks are “limited”.
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“While the Member States do what they promised, namely: Rembilized assets, if Russia pays the damage caused, this risk is not materialized,” the interlocutor of journalists said.
If Ukraine receives a reparation from Russia, it will return the loan to it, then the EU will return the EU depositary funds in turn, and he – Russia. Thus, there will be no need for guarantees from the Member States.
If Russia does not pay reparations, the assets will be immobilized in turn, as the EU leaders decided, and thus there will be no guarantee.
“Only if the Member States voluntarily decide to remains assets, that is, to abolish sanctions in a situation where the stated condition for the abolition of these sanctions is not fulfilled … Then, obviously, this will lead to a guarantee. But it is very important to say that Member States decide whether they want to cancel it at that time and to accept the consequences of financial terms, ”the European Commission official explained.
The European Commission is currently negotiating with Member States on the format of a repair loan for Ukraine. The specific proposal may be formulated after the summit of EU leaders planned for the end of October.
In the immobilized state, Russian assets hold the EU sanctions imposed at the beginning of the Russian full -scale invasion of Ukraine. In order to keep them in this state, the European Commission proposes to extend the restrictions that need twice a year, not unanimously, but a qualified majority.
When asked by journalists why this mechanism was not used earlier, if it is legally possible, the European Commission official noted that “this is not the step for which they are with easier.”
The amount of cash accumulated through the bonds of the Russian Central Bank in the Belgian Central Depository of EuroClear is about 176 billion euros. Russia is not refunded in connection with the sanctions imposed by the European Union in response to its full -scale invasion of Ukraine. The idea of providing Ukraine with a repair loan is thatTo 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. The Kremlin condemned this idea as “pure theft.”
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 possible withdrawal of their funds abroad.
