US EditionUK to Explore 'Reparations Loan' Backed by Frozen Russian Assets for Ukraine
- On Friday, three Russian MiG-31 jets entered Estonian airspace without permission for 12 minutes, provoking global outrage.
- This incident took place during the ongoing 2022 Russian invasion of Ukraine, alongside increasing initiatives aimed at leveraging seized Russian funds to support Ukraine's defense efforts.
- British Chancellor Rachel Reeves will announce on Saturday in Copenhagen plans to explore using profits from £25 billion in frozen Russian assets to provide a reparations loan to Ukraine.
- Reeves will say, "This is Russia’s war and Russia should pay," emphasizing that funding options must comply with international law and be financially responsible.
- The loan would let Kyiv access funds now, repayable only once Moscow pays war reparations, reflecting caution amid legal challenges and political resistance in the EU.
33 Articles
33 Articles
The UK government is considering financing a new wave of loans to Ukraine at the expense of billions of pounds of Russian state assets frozen in the country.
Access to Russian funds yes, expropriation no. Thus, the EU Commission of Ukraine wants to help with loans. However, there is also doubt about the plan.
As a result of the Russian war of aggression, the EU freezes almost EUR 200 billion of the Russian Central Bank and uses interest rates to support Ukraine. Now, the states are working on an agreement in order to be able to use the assets themselves as a loan as soon as possible.
The EU Commission wants to make frozen Russian assets available to Ukraine as loans in Europe. Member States are to guarantee for the loan.
EU Advances on Russia Assets Plan as Ukraine Funding Needs Rise
The European Union is making progress on a plan to provide loans to Ukraine using Russia’s immobilized central-bank assets — part of efforts to meet Kyiv’s rising financial needs as the 3 1/2-year war grinds on.
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