European Commissioner for Economic Affairs Valdis Dombrovskis reiterated that the European Union reserves the right to use frozen Russian assets to repay a loan that will be borrowed by 24 EU countries to provide €90 billion in financial support to Ukraine if Russia does not pay reparations.
Dombrovskis confirmed this position at a press conference in Brussels on Wednesday, focused on EU legislative initiatives to implement the European Council’s decision to provide financial support to Ukraine.
He stated, “The condition for Ukraine to repay the loan is Russia paying reparations for the destruction it has caused. Therefore, it is important that part of this proposal includes, as I have already mentioned, that the EU reserves the right to use remaining cash from frozen Russian assets to repay this loan supporting Ukraine.”
Dombrovskis also noted that the EU has ensured a “more stable framework for freezing Russian assets pending further discussions, without the need to renew it every six months.”
