Tusk announces 'breakthrough' on use of Russia’s frozen assets
Photo: Polish Prime Minister Donald Tusk (Vitalii Nosach, RBC-Ukraine)
The European Union appears to have achieved a "breakthrough" on the issue of granting Ukraine a reparations loan, as there is already agreement on using Russia's frozen assets in a fair manner, states Polish Prime Minister Donald Tusk, according to Sky News.
Tusk noted that the EU was able to achieve a "breakthrough" during the Brussels summit on December 18, as there is already broad agreement on the need to use Russia’s frozen assets fairly.
According to him, the EU is considering granting Ukraine a loan based on Russian assets. It is too early to speak of full agreement, as details are still being worked out. However, Poland supports Ukraine, since Polish independence would be at risk if Ukraine were forced to capitulate.
Poland and other countries will seek ways to overcome Belgium’s resistance, as it has been the loudest opponent of the plan to finance Ukraine. Belgium’s opposition is based on the fact that most of Russia’s assets are held in a Belgian depository, and the country fears retaliation from Russia.
At the Brussels summit, the European Union is considering providing Ukraine with a €90 billion loan from Russian assets, despite Belgium’s objections. Belgium argues that a single country should not have the right to block decisions needed by all.
The European Parliament is ready to apply so-called urgency procedures to accelerate the adoption of the reparations loan for Ukraine.
EU foreign affairs chief Kaja Kallas said that the chances of reaching an agreement on the reparations loan for Ukraine at the summit are about 50-50. European Commission President Ursula von der Leyen added that she will not leave today’s EU leaders’ meeting in Brussels without finding a solution for Ukraine’s continued financing.
