"The publication of a long-awaited legal text of the reparations loan comes ahead of an EU summit later this month at which EU leaders are being urged to agree a two-year funding plan for Ukraine to avert a looming cash crunch. Leaders failed in October to agree on a proposed reparations loan to Ukraine using the Russian assets, but the question is becoming increasingly urgent, with Kyiv forecast to run out of money from next spring."
"EU officials estimate Ukraine needs 136bn (119bn) in 2026 and 2027 to continue its defence and keep the country running. The stakes became even higher after the Trump administration floated a plan to invest some of Russia's frozen assets in joint US-Russia projects, as well as taking profits from $100bn (75bn) of the funds that it had earmarked to reconstruct Ukraine."
The European Commission will advance a proposal to fund Ukraine with a loan secured by Russia's frozen sovereign assets while offering an alternative EU loan based on common borrowing to address Belgian concerns. President Ursula von der Leyen said the two options would ensure Ukraine can defend itself and negotiate from strength. A legal text of the reparations loan has been published ahead of an EU summit seeking a two-year funding plan to avert a cash crunch. Kyiv is forecast to run out of money by next spring and needs €136bn for 2026–27. About €290bn of Russian assets are frozen in the West, €183bn held by Euroclear in Brussels.
Read at www.theguardian.com
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