The European Union wants continue supporting Ukraine and he has a plan for it. Or, rather, it has three, although Ursula von der Leyen already advances his ‘favorite‘ to meet the “needs” of kyiv in the next two years. Provided that Belgium access…
In an appearance in the European Parliament, the president of the Commission has detailed the three avenues that are already under study by the community ‘Executive’ and that will soon be debated by the 27 member states.
The first two projects go through the debt issuealthough by different paths. The initial plan proposes using the EU’s budget margin to raise funds in the capital markets, while the other is for the 27 member states to establish bilateral agreements and raise the necessary capital themselves.
They are still alternative approaches in case the one that Von der Leyen has presented as a third option and also as “the most effective” does not become effective. It consists of a loan to Ukraine worth 140,000 million euros in concept of war reparations “based on frozen Russian assets“In more detail, he wanted to clarify that it would involve taking the remaining cash from the frozen Russian assets, transferring it to Ukraine as a loan, under the condition about what kyiv would have to return it if Russia pays the required repairs.
“This is the most effective way to support the defense and economy of Ukraine. And the clearest way to make Russia understand that time is of the essence. We will show that, if necessary, we are committed for the long term. Because it is about our freedom. It’s about our democracies. It is an order based on rules. And Europe will always defend these values,” emphasized the president of the European Commission.
The problem is that there is no unanimity among the members of the EU, especially on the part of Belgiumwhose country hosts practically all of the funds frozen to Russia, as headquarters of .
For the Belgian Executive the plan of the Commission is a “confiscation“that leaves his country at the mercy of possible sanctions and legal disputes with Russia… something that the Kremlin has already started to warn. For this reason, Brussels is not only looking for a unanimous plan in the EU, but legal guarantees about what the other 26 members will support Belgium if in the future Moscow demands responsibilities.
“We are working closely with Belgium and all the Member States in the different options to implement this commitment”, the President of the Commission wanted to advance.
Without closing the door to the rest of the alternatives, Von der Leyen believes that any of them represents the EU’s “clear commitment” to “covering Ukraine’s financial needs over the next two years.” Optimistic, he assured MEPs that “It is evident that we will comply […] We are currently discussing how.”
