US EditionEU Pressuring Belgium To Tap Frozen Russian Funds: FT - Iran Front Page
8 Articles
8 Articles
The ministers of economy and finance of the European Union will hold a meeting in Luxembourg on October 10, where they will discuss the possibility of granting Ukraine so-called “repair loans” at the expense of frozen Russian assets.
The European Commission's proposal to lend millions of euros of Russian confiscated assets to Ukraine to finance the war against Russia faces legal doubts and the possible veto of countries such as Belgium or Hungary European leaders can only agree that they have to push forward defense plans All eyes are on Belgium, although it is not the only one that is putting obstacles to the plan to lend millions of euros of Russian confiscated assets to U…
EU Pressuring Belgium To Tap Frozen Russian Funds: FT - Iran Front Page
Patience among EU members is “running thin” over Belgium’s refusal to approve a bloc-backed plan to use frozen Russian assets as collateral for a multibillion-euro loan to finance Ukraine’s war, The Financial Times has reported.
The EU is pressuring Belgium to drop its objections to a reparations loan for Ukraine, while the Kremlin warns against supplying it.
Those in the EU who support a reparations loan using frozen Russian assets held in Belgium are frustrated with the country’s stance. Belgian Prime Minister Bart De Wever insists all EU countries must share the legal and financial risks and guarantee the full loan amount, so Belgium isn’t liable if legal issues arise. Other nations are upset because Poland and Denmark did not seek risk-sharing mechanisms when acting as transit hubs for the transf…
Denmark’s Prime Minister, Mette Frederiksen, admitted that the European Union (EU) has no chance of continuing funding Ukraine, without using the Russian assets seized as retaliation for the conflict. “What is the alternative? We have to find a way to finance it and, if not, I don’t know any other idea,” the official told the British Financial Times. This statement came as Belgium faces increasing international pressure, to house €190 billion in…
Wednesday, October 8. Ukraine is in its 1,323rd day of a full-scale war caused by Russia.
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