Copenhagen (EFE) .- The Ministers of Economy and Finance of the twenty-seven committed this Saturday to continue working in a formula to launch the so-called “repair loans” to Ukraine, using Russian assets immobilized by sanctions.
As explained by the European Commissioner of Economics, Valdis Dombrovskis, at the end of the informal meeting of the headline of the European Union held in Copenhagen, the twenty -seven showed “the willingness to compromise in a constructive way”, which will allow “advancing in the modalities” of this new instrument that aims to cover the financing needs of kyiv in 2026.
In addition, the EU is working for the G7 partners to join this initiative and considers that the United Kingdom has shown “open to consider a similar approach”, after the meeting that took place on Friday between the Foreign Minister of the Treasury, Rachel Reeves, and Dombrovskis.
A “repair loan”
The commissioner, however, did not specify whether this initiative will take the form of a coalition of volunteers to which the countries who wish can join.
The president of the European Commission, Ursula von der Leyen, suggested in her speech about the state of the union last week to provide Ukraine a “loan of repairs” using the “cash balances” associated with the immobilized Russian assets, but without touching the assets in themselves.
The Danish Presidency, which this semester pilots the negotiations of the European Union, is confident that the detailed proposal of the Community Executive will be presented in October, on time for the next meeting of the Ministers of Economy and Finance of the Twenty -seven of that month.
Von der Leyen himself explained that the risk of this loan should be assumed “collectively” and said that kyiv would only return it once Russia pay war repairs.
Credit impact to Ucania
According to government sources, the Commission is studying that the impact of this credit is “similar to confiscation, but does not get legally” to it.
The same sources believe that this initiative will “move forward in any case”, since only four countries are needed that guarantee these credits and that they must receive the approval of their respective national parliaments.
This credit would be added, a priori, to the loans that the EU already provides Ukraine financed with the extraordinary benefits generated by the Russian assets immobilized by the sanctions in the block, which amount to about 200,000 million euros, specifically 18,000 million euros of a total package of about 45,000 million agreed within the framework of the G7.
In addition, the Ministers of Economy and Finance of the twenty -seven discussed other issues such as the implementation of the digital euro and how to improve European competitiveness, during the meeting this Friday and Saturday that took place in Copenhagen and which their counterparts from the United Kingdom, Canada, Ukraine and Norway were invited.
