BERLIN, November 21. /TASS/. The new US peace initiative on Ukraine effectively kills European Union's plans to use frozen Russian assets to finance aid to Kiev, Handelsblatt reported.
"New risks for the reparation loan have already emerged. After all, the peace plan published this week stipulates that frozen Russian assets should be used differently," a senior Belgian official told the newspaper. According to him, the US plan, if implemented, "would oblige the EU to reimburse all seized Russian funds."
According to Handelsblatt, the document contains a clause, according to which part of the assets of the Russian central bank is supposed to be sent to a US-managed fund for the reconstruction of Ukraine, and part to Russian and American projects. The newspaper says that if US President Donald Trump insists on fulfilling this clause, the EU faces a conflict with Washington.
The American proposals may already affect the timetable of financial assistance to Kiev, since now discussion of this topic will be delayed, the newspaper writes.
Earlier, European Commission President Ursula von der Leyen sent a letter to the EU countries with official proposals for the expropriation of Russian assets and two alternative financing options for Ukraine based on loans. According to Western media, the document says that Kiev is experiencing a significant lack of funding for 2026-2027. The EC offers three solutions to this problem: expropriation of assets under the guise of a so-called reparation loan "using Russia's blocked assets," grants from the EU countries, and "a general loan raised at the EU level." Von der Leyen wants a decision to be made at the EU summit on December 18-19.