"At a summit billed as make or break, EU leaders are discussing an unprecedented move to tap some of Russia's 210bn sovereign assets frozen in the bloc days after the full-scale invasion of 2022. Under the scheme, the EU would provide Kyiv with a 90bn loan to help keep Ukraine in the fight, as Russia ekes out gains on the battlefields."
"If these funds can serve European security by holding the aggressor accountable for its war against Ukraine and against Europe, then why would we leave Moscow with any hope or confidence that the money will still come back no matter what it has done, he told EU leaders. I know that Russia is intimidating different countries over this decision. But we should not be afraid of threats we should be afraid of Europe being weak."
EU leaders are considering an unprecedented plan to use some of Russia's 210bn in sovereign assets frozen in the bloc to provide Kyiv with a 90bn loan to sustain Ukraine's defence as Russian forces make battlefield gains. Belgium continues to oppose a loan secured against frozen assets, prompting debate between tapping Russian assets and joint EU borrowing to meet an estimated 136bn funding need for 2026–27. Germany and fiscally cautious states support using Russian assets rather than European taxpayer debt. Ukrainian and Polish leaders warned that delayed funding risks military setbacks and potential Ukrainian bankruptcy, and accused Russia of intimidation.
Read at www.theguardian.com
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