Frozen Assets: EU's Controversial Plan for Ukraine Aid
European leaders are considering a plan to loan Ukraine 140 billion euros using frozen Russian assets. The proposal faces legal challenges over international law restrictions on confiscating sovereign assets. Belgium, France, and Luxembourg seek guarantees on asset handling, while G7 countries may join in the arrangement.
European leaders have shown preliminary support for funneling frozen Russian assets towards a 140 billion euro loan to Ukraine. Wednesday's talks underscored the need to resolve legal hurdles before proceeding. The EU proposal comes as U.S. military aid to Kyiv wanes and EU nations grapple with financial strains.
Complicated by international law, the proposed loan would allow Ukraine to utilize the funds immediately, with repayment contingent on Russian war reparations. Belgium demands strong assurances from the EU against unilateral dealings with Moscow. France and Luxembourg back this stance.
Some leaders remain cautious, emphasizing unresolved legal and financial risks. The EU Commission is expected to create a legally viable proposal soon, with G7 nations potentially contributing. A looming summit will further discuss the plan's feasibility.
(With inputs from agencies.)
Google News