go to the original language article
Brussels – Most European Union countries, including the Czech Republic, consider the use of the so-called reparations loan for Kyiv as the only real option to financially support Ukraine. This was stated today by outgoing Czech Minister Zbyněk Stanjura after a meeting of EU finance ministers in Brussels.
The European Commission previously presented a plan that, according to it, would allow the use of up to 185 billion euros from frozen Russian assets in Europe to finance the so-called reparations loan to Ukraine, without these assets being confiscated. However, some countries have reservations about this approach and a number of technical and legal questions. Belgium has the greatest reservations, fearing possible legal risks. Most of the frozen Russian assets are located in Belgium, as Euroclear is headquartered there.
European Commission President Ursula von der Leyen stated today in a speech before MEPs that member states have three ways to financially support Ukraine. “Option number one is to use the maneuvering space in the budget and raise money in the capital markets. Option number two is an intergovernmental agreement, under which member states will raise the necessary capital themselves. Option number three is a reparations loan based on immobilized Russian assets,” she said.
EU finance ministers also debated the options for financing Ukraine today in Brussels. “Most ministers, including myself, believe that the reparations loan is the only real option. Everything else is just delaying. We do not have time. Ukraine does not have time. The only one who has time is Putin,” said the Czech minister. “Many of us tried to explain to the Belgians that we will definitely find a solution to alleviate their concerns,” Stanjura added. According to him, no solution is without risk; however, the greatest risk for Europe will be if the EU does nothing, thus weakening Ukraine. (November 13)