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EC hopes Germany, Italy, France will become guarantors for loan to Kiev — Politico

The publication reported that EU countries will be required to individually commit to providing billions of euros to guarantee Ukraine's 210 bln euros emergency loan

BRUSSELS, December 8. /TASS/. The European Commission (EC) expects Germany, France, and Italy to shoulder the bulk of the burden of securing a loan for Ukraine using frozen Russian assets, Politico wrote, citing EC documents it obtained.

EU countries will be required to individually commit to providing billions of euros to guarantee Ukraine's 210 bln euros emergency loan, according to the publication. Guarantees are calculated based on a country's gross national income, with Germany possibly having to provide the largest amount, around 51.3 bln euros. France will guarantee 34 bln euros, while Italy will guarantee 25.1 bln euros. Those guarantees will help secure Belgian Prime Minister Bart de Wever's approval for the loan, Politico said.

The publication reported earlier that the European Commission had submitted legal proposals to EU countries on the expropriation of all 210 bln euros of sovereign assets of the Bank of Russia frozen in the European Union for financing Ukraine in 2026-2027. Belgium, where the funds are actually held, is adamantly opposed to the seizure.

Currently, around 210 bln euros in Russian sovereign assets are frozen in Europe. Of these, 185 bln euros are held in accounts at the Euroclear depository in Belgium. Neither the European Commission nor EU countries have officially announced the exact location of the remaining 25 bln euros.