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EU proposes using frozen Russian assets or borrowing to give Ukraine 90 bln euros
The European Commission aims to raise €90 billion via a reparations loan backed by frozen Russian assets to cover two-thirds of Ukraine's financial needs for 2026-27.
- Dec 3 — The European Commission proposed using frozen Russian assets or borrowing to raise 90 billion euros for Ukraine, covering two-thirds of its 2026–27 needs, Ursula von der Leyen said.
- Brussels records show about 210 billion euros held across Europe, mostly in Belgium around 194 billion, while Ukraine's 2026–27 financing needs are estimated around 130 billion euros.
- To ease legal hurdles, Brussels proposes invoking Article 12 and interpreting voting rules to allow decisions by qualified‑majority, with safeguards including a three‑tier defence and a prohibition on releasing assets.
- Belgium immediately rejected the plan and warned it poses major legal and financial risks, while Russia called the scheme "theft" and the European Central Bank cautioned it could undermine euro confidence.
- EU leaders will consider the scheme at a Dec. 18 summit, with the Commission saying it could proceed if 15 of 27 member states representing at least 65% support, but funds may not be available until the second quarter next year.
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26 Articles
26 Articles
EU Presents Plan To Use Russian Assets For Ukraine As Belgium Frets
·New York, United States
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"Ukraine can't be alone. We have to ensure that the money is still available. We are able to get the funds necessary for Ukraine even without frozen assets," supported Mark Rutte.
·Portugal
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Total News Sources26
Leaning Left10Leaning Right3Center6Last UpdatedBias Distribution53% Left
Bias Distribution
- 53% of the sources lean Left
53% Left
L 53%
C 31%
R 16%
Factuality
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