"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 in Brussels declared support in principle to fund Ukraine through 2026 and 2027, but deferred a concrete financing proposal until the December European Council. EU Council chief Antonio Costa said Ukraine will have the financial resources to defend itself and that technical, legal and financial details need work. Leaders debated legal risks of using frozen Russian Central Bank assets as collateral for a proposed €140 billion loan, with Belgium seeking more reassurances. Member states differ on permitted uses: Germany wants funds restricted to defense, while others contemplate broader budgetary support. The Commission will draft options for the December summit.
Read at www.dw.com
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