US EditionStubb, European Leaders: "Putin Continues to Choose Violence and Destruction"
The EU plans to lend Ukraine €140 billion interest-free from frozen Russian assets while phasing out Russian fossil fuels by 2028, aiming to cut Kremlin war funding.
- On October 21, EU leaders moved close to instructing the European Commission to draft a legal proposal for a large loan to Ukraine backed by frozen Russian central bank assets, Politico reported.
- Ukraine's president will join by video to outline urgent 2026 funding needs, while the EU insists frozen assets are mobilisation, not confiscation, preserving sovereign principal.
- Risk-Sharing and profit taxation by Belgium complicate the legal design, prompting the European Commission to explore treaty tools and qualified-majority voting, though some lawyers remain sceptical.
- Today, EU energy ministers will decide to end carve-outs for Hungary and Slovakia, aiming to ban some Russian gas and oil imports by 2026 and fully phase out by 2028.
- European leaders say the scheme makes Russia's resources support Ukraine's defense and reconstruction, with the design envisaging Russia would cover costs as war reparations, aligning with EU energy shifts.
16 Articles
16 Articles
Brussels Moves To Leverage $204 Billion In Russian Assets For Ukraine Loan
EU leaders will task the European Commission with designing a plan to use $204 billion in frozen Russian assets to back a loan for Ukraine, aiming to fill funding gaps as US support wanes. Key disputes remain over legality, spending rules, and who will share the risk.
EU leaders are set to task the European Commission with drafting a legal proposal to use billions of euros in frozen Russian state assets to guarantee a loan to Ukraine. Belgium, which has so far opposed the plan, has signaled it will not block it, Politico reports.
EU ambassadors have informally agreed on the draft conclusions of the European Council meeting, which at its meeting on Thursday will consider the use of frozen Russian assets to provide a so-called “repair loan” for Ukraine.
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