Russia hits back at Europe's big plan to loan Moscow's frozen cash to Ukraine
Summary
Russia opposes Europe's idea to loan Russia's frozen money to Ukraine for rebuilding. The European Union plans to use these funds to support Ukraine's budget, but Russia and Belgium have concerns about the plan. The EU is trying to address these concerns before their summit next week.Key Facts
- Ukraine lacks funds to support its military and economy due to the ongoing conflict with Russia.
- The EU considers using €185 billion of Russian assets held by Euroclear to aid Ukraine.
- Russia calls the EU's plan an act of theft and is taking legal action against Euroclear in Moscow.
- Belgian officials worry about potential financial risks and are considering legal action if necessary.
- The EU has two proposals to provide Ukraine with €90 billion, which includes using Russian assets.
- There is opposition from Hungary and Slovakia to funding Ukraine's military efforts.
- Belgium's acceptance of the plan could depend on meeting specific conditions.
- The EU has paid Ukraine €3.7 billion from the profits of frozen Russian assets in 2024.
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