EU is considering alternatives for supporting Ukraine

• The EU is considering allocations of up to 90 billion euros for supporting Ukraine.
• The plan to utilize frozen Russian assets has proven unpopular for Belgium.
• The Baltic states and Poland support the idea of a reparations position.

The European Union is exploring the possibility of providing assistance to Ukraine through its own resources instead of the position on reparations from frozen Russian assets. This approach anticipates allocations of up to 90 billion euros from EU member states, according to a document from the European Commission, which proposes an alternative plan for supporting Kyiv.

Initially, the European Commission developed a mechanism that anticipated utilizing frozen Russian assets to provide Ukraine with a position of 140 billion euros. However, this plan did not include obtaining sufficient guarantees for the financial institution Euroclear in Belgium, where the majority of Russian assets are stored.

Belgian Prime Minister Alexander De Croo declined to participate in a scheme that could turn out to be very detrimental for Brussels. After this, European Commission President Ursula von der Leyen introduced new variants, acknowledging that the position on reparations requires the joint efforts of EU members and possible international partners.

The Baltic states, Northern nations, and Poland support the idea of a position on reparations, considering it a fair step for Russia to compensate for the damage inflicted on Ukraine. Meanwhile, France and some other countries do not rule out the possibility of joint positioning, although they argue that an agreement could be blocked by Hungary.

Currently, the EU is focused on enhancing its control over Russian assets to utilize them for supporting Ukraine or to strengthen its positions in negotiations with Washington.

Tags: Ukraine/Europe/Politics/Economy