EU has a plan to use frozen Russian assets to fund Ukraine – how will it work?
What are the legal implications, and why does Belgium fear being left alone with the bill?The European Commission has proposed providing Ukraine with €90bn in funding over two years, which...
By Jennifer Rankin in Brussels and Jon Henley · The Guardian World
What are the legal implications, and why does Belgium fear being left alone with the bill? The European Commission has proposed providing Ukraine with €90bn in funding over two years, which it says will meet two-thirds of Kyiv’s financing needs for 2026 and 2027 and allow it to engage in peace talks “from a position of strength”. There are two options for generating the money. It could be a “reparations loan” based on Russian assets frozen in the bloc, the option favoured by the commission but strongly resisted by Belgium, which hosts most of the assets. Continue reading...