EU demands Belgium's permission for a loan to Ukraine from Russian assets

According to hvylya.net: The European Union is actively seeking ways to support Ukraine amid Russian aggression. To this end, the EU demands Belgium's permission to use frozen Russian assets to provide a large loan to the Ukrainian government.

About 190 billion euros of Russian sovereign assets are currently blocked in the central securities depository Euroclear in Brussels, frozen after Russia's invasion of Ukraine in 2022.

Initially, several Western countries, including the USA, Germany, and Belgium, were reluctant to allow the use of these funds due to various risks. However, the situation has changed dramatically recently.

U.S. and EU Positions and Events

The Biden administration has urged G7 countries to confiscate or use frozen Russian assets to finance Ukraine's defense, leading to a reassessment of allies' positions.

The German Chancellor proposed to use 140 billion euros as a loan for arming Ukraine, and the European Commission is already developing plans for a reparative loan.

However, the Belgian Prime Minister holds a tough stance, demanding guarantees from all EU countries regarding the risks associated with this deal, especially considering the possibility of losing profits from frozen assets that are already being used to support Ukraine.

The European Union is actively moving towards providing assistance to Ukraine in the context of the conflict with Russia, looking for new opportunities for financial support and powerful means to defend the country's interests. Various countries are making efforts to help Ukraine during this challenging time.