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FACTBOX: What is known about EC decision on frozen Russian assets

The expropriation of Russian assets allegedly does not require a compromise, and the decision will be made by a qualified majority, EC President Ursula von der Leyen said

© Carl Court/Getty Images

BRUSSELS, December 3. /TASS/. The College of Commissioners of the European Commission (EC) has approved a "potential reparations loan" for Ukraine, which implies the confiscation and use of frozen Russian assets. EC President Ursula von der Leyen made a relevant statement at a press conference in Brussels.

TASS has compiled the key information on the European authorities' decision.

EC decision

- The College of Commissioners has approved a "potential reparations loan" for Ukraine, which implies expropriation of frozen Russian assets.

- The European Commission also intends to prohibit the enforcement of foreign court decisions within the EU as part of Russia's retaliatory measures against the expropriation of its sovereign assets under the guise of a "reparations loan."

- The expropriation of Russian assets allegedly does not require a compromise, and the decision will be made by a qualified majority, von der Leyen said.

- The European Commission also offered an alternative financing plan to cover Ukraine's military and civilian needs for the next two years, one that doesn't involve the use of frozen Russian assets. It involves the allocation of a 90 billion euro loan guaranteed by the EU budget.

- The European Commission proceeds from the need to cover approximately two-thirds of Ukraine's financial needs for 2026 and 2027, which total 135 billion euros, von der Leyen said. The remaining third should be provided by Ukraine's foreign partners, she asserted.

- Both proposals will be published after the EU Council has determined its position on them in accordance with the necessary procedures.

Belgium's position

Belgian Prime Minister Bart De Wever noted that the expropriation of Russian assets is an unprecedented step, no one had even dared to undertake it during World War II.

- He demanded legal and financial guarantees from EU countries that they would fully share all of Belgium's risks.

- Belgian Foreign Minister Maxime Prevost stated that Belgium "feels disappointed that it is not being heard, and that its concerns are being diminished."

- Prevost stressed that the consequences of asset expropriation "will be catastrophic."

Kremlin statements

- Kremlin Spokesman Dmitry Peskov stressed that Moscow will not leave such actions unanswered.

- The asset freeze was illegal, Peskov noted.

- Now the Europeans are trying to steal these funds and use them to support the "war machine of the Kiev regime," he added.

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