Norway may support the European Union's plans to use frozen Russian assets to help Ukraine, but it will not be a guarantor for the scheme through its sovereign fund, Finance Minister Jens Stoltenberg said, quoted by Reuters, BTA reported.
Today, EU finance ministers will meet to discuss options for financing the aid to Kiev worth 140 billion euros, including through a loan backed by Russian assets frozen in the EU.
Most of these assets are blocked in Belgium through the European depository "Euroclear", based in Brussels. Belgium has so far resisted using them, fearing legal action from Moscow.
To soften Belgium’s stance and break the deadlock, Norwegian lawmakers have suggested that the country’s sovereign wealth fund, the world’s largest with assets of more than $2 trillion, provide guarantees against legal risks. But Norwegian Finance Minister Jens Stoltenberg, a former NATO secretary general, said Norway would not issue guarantees for the scheme on its own.
"There were some ideas that Norway would guarantee the entire amount for Ukraine - $159 billion - but that is not an option," Stoltenberg told Norwegian public television.