"The vote centres on whether the EU can use about 210 billion euros ($246bn) in Russian central bank assets frozen within the bloc as the basis for a loan to Kyiv over the next two years that Moscow would eventually pay back in projected war reparations, which the Kremlin rejects."
"The proposal comes as United States financial support for Ukraine dries up under the administration of President Donald Trump, and EU national budgets are already under strain. Without additional EU funding, Ukraine could run out of money by April next year, a scenario EU officials fear would lead to a military defeat and increase the risk of Russian influence in Europe and feared spillover of the conflict across Europe's borders."
"It comes after the European Commission put forward a backup plan under which the EU would raise the funds itself to lend to Ukraine, with the option shelved for now amid opposition from Hungary's Prime Minister Viktor Orban, who would be expected to vote against the measure, which requires unanimous approval from all 27 member states."
European Union leaders are meeting in Brussels to decide whether to use about €210 billion in frozen Russian central bank assets as the basis for a two-year loan to Kyiv that Moscow would be expected to repay through projected war reparations. United States financial support for Ukraine has declined under the Trump administration, and EU national budgets face strain. EU officials warn Ukraine could run out of money by April, risking military defeat and increased Russian influence in Europe. The European Commission proposed an EU-funded backup plan, but Hungary’s likely opposition blocks unanimous approval, making use of frozen assets the primary viable option.
Read at www.aljazeera.com
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