"But the bloc is yet to put forth a concrete proposal to do so, pushing the decision to December, EU Council chief Antonio Costa announced. "Russia should take good note of this. Ukraine will have the financial resources it needs to defend itself against Russia's aggression and in the foreseeable future. The technical, legal and financial aspects of Europe's support need to be worked on, and we will return to this issue in the December European Council," Costa said."
"EU leaders were debating the legal risks of using frozen Russian Central Bank assets as collateral for a massive loan (140 billion, $163 billion) to aid Ukraine. Belgium, which holds most of that money, has asked the bloc for more reassurances before doing so. EU countries also have different ideas about how Kyiv should spend the money. Germany, for example, has said the funds should be used to fund Ukraine's defense alone, not general spending to keep the country running."
EU heads of state and government declared support in principle to fund Ukraine through 2026 and 2027. The bloc has not yet produced a concrete financing proposal and shifted the final decision to the December European Council. Leaders stated that Ukraine will receive the financial resources needed to defend itself against Russian aggression. Technical, legal and financial details of the support require further work. Leaders debated using frozen Russian Central Bank assets as collateral for a €140 billion loan. Belgium sought further reassurances because it holds most of those assets. Member states disagree on spending rules, leaving the European Commission to devise options.
Read at www.dw.com
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