Italy backs reparations loan for Ukraine with one condition
Photo: Italian Prime Minister Giorgia Meloni (Getty Images)
Italy supports the use of frozen Russian assets for a reparation loan to Ukraine, but this must be done on a solid legal basis, Italian Prime Minister Giorgia Meloni says.
Meloni notes that Italy supports economic pressure on Russia, but any instrument of support for Ukraine, in her words, must be based on the rule of law.
"Italy considers it a sacred principle that Russia itself must pay for the restoration of the country it attacked, but this must be done on a solid legal basis. Any instrument of support for Kyiv must always comply with our values and the rules on which the rule of law is based," she says.
The Italian Prime Minister is convinced that finding a solution for the use of Russian assets for the benefit of Ukraine will not be easy, as other countries besides Belgium may also raise objections.
"We consider it short-sighted to focus on the only entity that holds frozen assets, namely Belgium, when other partner countries also have frozen assets in their financial systems," Meloni notes.
She also believes that Russia is not ready for constructive negotiations, as evidenced by its continued attacks on Ukrainian cities.
Reparation loan for Ukraine
The European Commission has proposed granting Ukraine a reparation loan of €140 billion from Russia's frozen assets.
However, Belgium is blocking this initiative because it holds the largest share of Russia's assets on its territory.
Meanwhile, the EU is considering a plan B — a transitional loan from the bloc's borrowings to support Ukraine in early 2026.
At the same time, Germany warned the EU that refusing to support a reparations loan for Ukraine could worsen credit ratings and raise interest rates.
The US is putting pressure on many EU countries to refuse to use frozen Russian assets for Ukraine's needs. If no decision is made, Kyiv may face economic problems.
