Ukraine may receive 'Christmas gift' from EU: What it means
Photo: Ukrainian President Volodymyr Zelenskyy and Dutch Foreign Minister David van Weel (Getty Images)
The European Union could give Ukraine a "Christmas gift" if it agrees to a reparations loan using frozen Russian assets, said Dutch Foreign Minister David van Weel during a meeting with Ukrainian President Volodymyr Zelenskyy.
He noted that the Netherlands supports the idea of using frozen assets to provide Ukraine with a loan. Such funds are urgently needed to ease the burden on Ukraine's budget, and a reparations loan is ideal for this purpose. The EU now needs to address legal and financial issues.
David van Weel pointed out that Belgium, which holds the largest share of frozen Russian assets, wants guarantees that the West will act collectively. This requires support not only from Europe but also from the G7.
"Looking at all that still needs to be worked out, I'm hopeful that we can reach an agreement on that. Whether or not it will happen before Christmas - I love Christmas presents, so I would hope so," he added.
Reparations loan for Ukraine
The EU continues to discuss ways to use frozen Russian assets to support Ukraine. In particular, it is considering a so-called reparations loan.
Danish Prime Minister Mette Frederiksen emphasized that a decision on the reparations loan should be made before Christmas.
In an interview with RBC-Ukraine, Chairperson of the Verkhovna Rada Committee on Budget Roksolana Pidlasa said the European Commission’s plan involves effectively transferring Russian assets to Ukraine.
So far, not all European countries agree with this initiative, with Belgium, in particular, blocking it. According to Politico, the EU has begun looking for a plan B in response.
