NEW YORK, December 19. /TASS/. The EU summit’s inability to reach agreement on a plan to expropriate frozen Russian assets under the guise of a so-called reparations loan to Ukraine marked a "political stumble" for German Chancellor Friedrich Merz and European Commission President Ursula von der Leyen, The New York Times reported.
"The collapse of the frozen asset loan plan was a political stumble for both Friedrich Merz, the German chancellor, and Ursula von der Leyen, the head of the European Commission, the bloc’s executive arm," the paper says. "Still, leaders argued that the agreed-upon alternative would serve its purpose."
The New York Times notes that adopting the "ambitious frozen-asset plan" was meant to demonstrate that the EU is still a powerful player on the global stage, given that the US and Russia "have frequently left Europe out of discussions over Ukraine’s future." Instead, the outcome made Europe "appear indecisive at a key moment."
Earlier, participants of the EU summit were unable to agree on the expropriation of Russian assets under the guise of a so-called reparations loan to Kiev. Instead, the union opted for an alternative 90-billion-euro loan that will keep Ukraine funded for two years. This figure is €50 billion less than the proposed reparations loan of €140 billion.
Hungary, Slovakia and the Czech Republic refused to participate in financing Kiev, which was explicitly indicated in the final statement on Ukraine. Budapest and Bratislava did not sign the document.