Reparations loan for Ukraine becomes even more relevant in light of US plan - European Commission
Photo: Paula Pinho, European Commission spokesperson (Getty Images)
Talks on a reparations loan for Ukraine, financed by Russian assets, have become more relevant against the backdrop of the US initiative to end the war, states European Commission spokesperson Paula Pinho, according to The Guardian.
Pinho emphasized that the European Union supports the constructive progress achieved in the peace plan talks between US and Ukrainian officials. At the same time, she noted that "a lot of work remains to be done."
According to her, the EU’s three "red lines" remain unchanged: borders cannot be changed by force, there can be no restrictions on the Ukrainian armed forces, and all Ukrainian children abducted by Russia must be returned.
She also added that "it is critical that the aggressor, Russia, pays for the destruction." Negotiations on using frozen Russian assets to provide Ukraine with a reparations loan are "even more urgent now," Pinho said.
Meanwhile, as the European Commission spokesperson clarified, an online meeting of the Coalition of the Willing is expected tomorrow, 25 November.
Reparations loan for Ukraine
The idea of providing Ukraine with a reparations loan was proposed by the European Commission. The plan envisions that it would be backed by Russian assets frozen by the EU after the start of the full-scale war in Ukraine.
For Ukraine to receive such a reparations loan, the consent of all EU member states is required.
At present, the initiative is being blocked by Belgium, the country where the largest share of frozen Russian assets is held.
Against this backdrop, the European Commission has begun looking for alternative solutions to support Ukraine in the future.
