EC President offers Ukraine ‘reparation loan’ at expense of frozen Russian assets
European Commission President Ursula von der Leyen called for work on a new solution to finance Ukraine's defense at the expense of frozen Russian assets.
"This is Russia's war. And it is Russia that should pay. This is why we need to work urgently on a new solution to finance Ukraine's war effort on the basis of the immobilised Russian assets. With the cash balances associated to these Russian assets, we can provide Ukraine with a Reparations Loan," von der Leyen said during her annual address to the European Parliament in Strasbourg on Wednesday.
The EC President added that the assets would not be directly touched and the risk would be "carried collectively" by countries.
"Ukraine will only pay back the loan once Russia pays for the reparations," von der Leyen said.
