The leaders of seven European Union countries called on Brussels today to swiftly implement the proposal to use frozen Russian assets to finance Ukraine, Reuters reported, BTA reported.
„Supporting Ukraine in its fight for freedom and independence is not only a moral obligation – it is also in our own interest“, said the leaders of Estonia, Finland, Ireland, Latvia, Lithuania, Poland and Sweden in a letter sent to EU Council President Antonio Costa and European Commission President Ursula von der Leyen.
“Therefore, we must proceed quickly to implement the EC's proposals to use the cash from frozen Russian assets to provide a reparations loan to Ukraine“, the seven leaders believe.
Last week, the EC proposed that financial support for Ukraine in the next two years be provided with a loan from the financial markets or by using Russian assets seized under EU sanctions.
If the EU does draw down a loan, it should be tied to the European budget, the proposal stipulates. The other option would give the EC access to Russian assets held in all European financial institutions.
According to the International Monetary Fund, Ukraine will need 135 billion euros in the next two years.
According to European Commissioner for Economic Affairs Valdis Dombrovskis, a total of 210 billion euros of Russian assets have been frozen in the EU, and this could be the maximum amount of the loan for Ukraine. 45 billion euros are planned to be left in reserve for the repayment of loan obligations on international markets.