EU Proposes New Plan for Funding Ukraine Using Russian Assets
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The European Union has proposed two options for helping Ukraine to top up its finances strained by Russia’s invasion. Belgium rejected a plan to use Russian frozen assets.
The EU proposed using either a loan backed by the frozen assets or one backed by the bloc’s own budget. Belgium hosts most of the Russian assets and is worried that it could be forced to repay the massive loan on its own. The EU wants to cover €90 billion ($105 billion) of Ukraine’s financial needs.