In a bold move, the EU has transferred €4 billion to Ukraine from frozen Russian assets, boosting Kyiv's finances amid ongoing tensions. 💸
This loan, confirmed by Ukraine's Ministry of Finance, comes from assets the bloc froze after Russia's invasion. Picture this: your mobile wallet getting locked until verification—just multiply that by billions. 📱💰
But Moscow didn't take it lightly. Kremlin spokesperson Dmitry Peskov slammed the move as 'theft' and warned anyone involved—countries or individuals—could face legal action.
Beyond this €4 B, Brussels is cooking up a 'reparation loan' plan: a potential €140 B package anchored on those same frozen assets at Euroclear, a major securities depository in Brussels. The deal? Ukraine pays it back once a peace deal is in place and Russia compensates.
There are roughly $300 B in frozen Russian assets worldwide—about €210 B in Europe, with €185 B at Euroclear, where €176 B has matured into cash. But not everyone's on board: Belgium and the European Central Bank warn it could shake confidence in the euro and Europe's banking system.
Despite the threats and hesitations, EU leaders are doubling down. President Ursula von der Leyen also pledged €2 B for drones to help Ukraine level up its defense tech. 🚁
All in all, EU aid to Ukraine now nears €178 B since the conflict began in 2022—keeping Europe firmly in Kyiv's corner. 🌍🤝
Reference(s):
EU transfers frozen Russian funds to Kyiv amid Moscows threats
cgtn.com
