European Union delays decision on reparations loan to Ukraine due to Belgium’s demands
The debate within the European Union regarding the provision of a so-called ‘reparations loan’ to Ukraine using frozen Russian assets has been postponed until December.
The primary reason for this delay is Belgium’s insistence on obtaining stricter guarantees that it will not bear any responsibility for risks associated with the loans totaling approximately 140 billion US dollars.
This stance emerged after extensive negotiations and has caused disappointment among member states expecting a swift decision.
Meanwhile, the current draft final document of the EU summit, reviewed by Politico, has become notably more vague: instead of clear directives for the European Commission to prepare a legal proposal, the text now merely ‘requests the Commission to quickly present options for financial support.’ This indicates that the issue remains unresolved and continues to spark debate among EU members.
Previously, in an article by Oleg Sarkits titled ‘Reparations Loan: EU Turns Frozen Russian Assets into a Weapon for Ukraine,’ the concept of this loan and the EU’s objectives in its implementation were thoroughly explained.