Canada, UK and Japan could provide Ukraine with reparations loans, says EU Commissioner
Photo: EU commissioner Valdis Dombrovskis (Getty Images)
Canada and the United Kingdom are ready to follow the European Union’s example and provide Ukraine with reparations loans, using frozen Russian assets. Japan could also participate in this initiative, said EU Commissioner Valdis Dombrovskis, The Guardian reports.
According to the Commissioner, the UK and Canada are considering supporting Ukraine by replicating a "reparation loan-style approach linked with Russian immobilised assets in their territories." Essentially, this would be a reparations loan secured by Russian assets.
"We are also in touch with, for example, Japanese authorities on the same issue," Dombrovskis announced.
On November 13, European Commission President Ursula von der Leyen said the EU could explore alternative ways to finance Ukraine besides using frozen Russian assets. Agreement on a reparations loan has been blocked due to opposition from Belgium.
At the same time, the European Commission is working on a new financial aid plan for Ukraine. Details of this plan have not yet been disclosed.
Fortunately, delays in approving the loan do not pose critical risks to Ukraine. The country’s main and urgent financial needs for 2025 are already secured. EU leaders emphasized that they remain committed to supporting Ukraine and will continue to provide the necessary resources to strengthen its defense capabilities and counter Russian aggression.
