Summit divided on idea of loan secured against Russian assets, as Belgium seeks guarantees if scheme goes wrong
EU leaders are racing to secure a funding deal for Ukraine that has been cast as a choice between “money today or blood tomorrow”, but Belgium continues to oppose a loan secured against Russia’s frozen assets.
At a summit billed as make or break, EU leaders are discussing an unprecedented move to tap some of Russia’s €210bn sovereign assets frozen in the bloc days after the full-scale invasion of 2022.
Under the scheme, the EU would provide Kyiv with a €90bn loan to help keep Ukraine in the fight, as Russia ekes out gains on the battlefields.
Poland’s prime minister, Donald Tusk, said leaders had a simple choice: “Either money today or blood tomorrow.”
All the money in Russian assets should be given to Ukraine in form of aid and weapons.
But, there is money to be made on the war so of course loaning that money is a way better option to bankers and wealthy businessmen around Europe.
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Yeah I don’t see how setting the precedent of “if you start an unprompted war your assets will be seized and used to fund the response” would mean that it would be invoked every slight disagreement.
Invading sovereign nations is a lot bigger of a deal than violating fishing rights. One deserves a much harsher response than the other.