TBILISI, December 19. /TASS/. The EU’s decision to borrow €90 billion for Ukraine to meet its budgetary needs is a bluff that will be difficult to implement, Georgian President Mikhail Kavelashvili told journalists.

"Actually, it all comes down to something different. They [the EU - TASS] could not agree on the use of frozen [Russian] assets, and then decided to find a way out of this predicament. They know very well that the topic of this debt is a bluff. It will be difficult to implement. This country [Ukraine - TASS] has simply been sold out," Kavelashvili said.

Earlier, the EU summit concluded without the participants being able to agree on the expropriation of Russian assets under the guise of a so-called reparations loan to Kiev despite spending 17 hours in discussion. 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. Ukraine will receive this money for free, as it will be provided at 0% interest, and Kiev will only be obliged to repay it if it receives "full reparations" from Russia, the volume of which, according to Brussels, already exceeds half a trillion euros. The European Commission previously recognized Ukraine as insolvent and on this basis declared that it could no longer provide loans to it but is forced, in effect, to finance Kiev directly on a grant basis.