BRUSSELS, Belgium — At a contentious EU summit focused on funding for Ukraine, leaders have requested the European Commission to create legal pathways for a reparations loan, which would be secured by Russia’s frozen assets. A final proposal is anticipated by the end of the year, as discussions continue over the complex legal and political challenges surrounding the use of Russian assets for Ukrainian recovery efforts.
The decision comes after weeks of intense negotiations among EU member states, with some expressing concerns over the legal implications of using frozen Russian assets for Ukraine’s reconstruction. The European Commission has been tasked with drafting the legal framework that would allow the EU to access these funds, while ensuring compliance with international law and the ongoing sanctions against Russia.
EU leaders emphasized the urgency of the situation, noting that Ukraine’s war effort and reconstruction efforts require substantial financial support. The use of Russia’s frozen assets is seen as a critical step in providing this support, though many remain wary of the potential legal and diplomatic repercussions of such a move.
The final proposal is expected to outline the specific mechanisms for accessing the frozen assets, including potential conditions or restrictions on their use. It is anticipated that the proposal will also address how the funds will be distributed and monitored to ensure they are used for their intended purposes.
As the deadline approaches, the European Commission has confirmed that it is working closely with legal experts and international partners to finalize the proposal. The outcome of this process will have significant implications for the EU’s ability to support Ukraine and the broader geopolitical landscape surrounding the conflict.