BRUSSELS: EU chief Ursula von der Leyen insisted on Thursday (Nov 13) that utilizing frozen Russian belongings to fund a brand new mortgage was the “only method” to finance Ukraine, as she laid out different choices after opposition from Belgium.
The 27-nation bloc is scrambling for funds to assist Kyiv plug looming finances black holes as Russia’s warfare drags on in the direction of a fourth yr.
Von der Leyen’s government has put ahead a plan to make use of Russian central financial institution belongings immobilised in Belgium to generate a €140 billion (US$163 billion) “reparations mortgage” for Ukraine.
However that has thus far confronted opposition from the Belgian authorities which fears it might face authorized reprisals from Moscow.
“We’re working carefully with Belgium, and all member states, on choices,” von der Leyen instructed EU lawmakers.
She remained adamant the frozen belongings plan – beneath which the EU “provides a mortgage to Ukraine, that Ukraine pays again if Russia pays reparations” – stays your best option.
“That is the best solution to maintain Ukraine’s defence and its economic system. And the clearest solution to make Russia perceive that point is just not on its aspect,” the European Fee president stated.
