Ukraine urges EU to finalize Russian asset decision in December — Reuters
Photo: Deputy Head of the Office of the President of Ukraine Iryna Mudra (Vitalii Nosach, RBC-Ukraine)
Ukraine is urging its European allies to make a political decision next month on a $163 billion reparation loan based on frozen Russian assets, Reuters reports.
The agency recalls that European leaders disagreed on a reparation loan for Kyiv last month and will discuss it again at the summit on December 18.
At the same time, Ukraine is expected to need the first large injections of financial support from the second quarter of 2026.
Deputy Head of the Office of the President of Ukraine Iryna Mudra told Reuters that the summit appears to be Europe's last chance this year to agree to provide Ukraine with a loan, which, according to Russia, will provoke a painful reaction.
"We don't expect all technical details to be finalised by that time, but the architecture for issuing the loan must be agreed," she says.
According to the deputy head of the Office of the President, Ukraine expects its European allies to determine the structure and management system through which the funds will be provided.
It is also vital for Ukraine to participate in decisions on the distribution and prioritization of funds.
"Without Ukraine's direct involvement, assistance risks becoming ineffective only because we know the real needs on the ground, but the decision should be taken together with our partners, definitely," Mudra emphasizes.
Confiscation of Russian assets
The European Union is considering providing Ukraine with a reparation loan from Russia's frozen assets.
However, there is no consensus on this issue in the EU yet. In particular, Belgium, the country where most of Russia's frozen assets are located, is opposed to this.
Brussels fears possible lawsuits and penalties from Russia.
At the same time, the EU has begun to consider alternative initiatives for financing Ukraine until the reparation loan is agreed upon.
