Ukrainian President Volodymyr Zelenskyy will attend a meeting of European Union leaders. One of the key topics of the summit will be the so-called “reparations loan” for Ukraine, Bloomberg reports.
According to the agency, the Ukrainian leader intends to secure support for the European Commission’s initiative, which calls for the loan to be secured by frozen Russian assets. The EU summit will take place on December 18-19.
As Bloomberg notes, European leaders have been trying for several weeks to agree on the parameters of the “reparations loan,” but the process has been complicated by Belgium’s position. The Belgian depository, Euroclear, holds the bulk of the frozen Russian assets.
Belgium insists on legal and financial guarantees against possible retaliatory measures from Moscow or if Russia succeeds in recovering the assets through legal proceedings.
The European Commission’s plan calls for using Russian funds to provide Ukraine with a €90 billion (approximately $106 billion) loan over the next two years. If an agreement is not reached, EU countries will have to consider temporary financing schemes.
Approval of the initiative requires the consent of all EU member states. The key vote is expected at the upcoming summit.
Earlier, EU Foreign Minister Kaja Kallas stated that negotiations on the “reparations loan” were becoming increasingly complex, noting significant pressure during the discussions. Meanwhile, German Chancellor Friedrich Merz estimates the likelihood of approval at 50%.
Բաժանորդագրվեք մեր ալիքին Telegram-ում
