"Ukraine would get a loan possibly 140bn over three years secured on Russia's Central Bank assets, which were immobilised by EU sanctions soon after the full-scale invasion of Ukraine in February 2022. Around two-thirds of the estimated 290bn of Russian assets in the west mostly debt securities in the form of government bonds are held at Euroclear, a central securities depository in Brussels, Belgium."
"EU officials say they would not confiscate Russia's sovereign assets. Instead, the EU would sign a contract with Euroclear to provide a loan for Ukraine secured on these funds. When the war is over, Ukraine would repay the EU using theoretical compensation received from Russia for the invasion. Once Russia pays reparations a central, but not guaranteed assumption of the plan the EU would lift sanctions and Moscow could recover its frozen assets."
European leaders propose financing Ukraine with a loan potentially around €140bn over three years, secured on Russian Central Bank assets frozen in the West. Approximately two-thirds of an estimated €290bn of those assets, mainly government bonds, are held at Euroclear in Brussels. The EU would contract with Euroclear to back the loan rather than confiscate sovereign assets, with the assumption that Ukraine would later repay from Russian reparations. Major uncertainties include Russia refusing to pay, continued war duration, legal risks to Euroclear, and Belgium's concern about bearing disproportionate liability. Leaders are expected to back the concept without approving a sum.
Read at www.theguardian.com
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