BRUSSELS – The European Commission (EC) expects Germany, France and Italy to bear the brunt of the burden in securing a loan for Ukraine, which is to be covered by frozen Russian assets. This was reported by the Politico portal, citing European Commission documents it had obtained.
According to the publication, European Union countries will have to individually pledge guarantees worth billions of euros in order to secure an emergency loan for Ukraine amounting to €210 billion.
The amount of the guarantees depends on the gross national income of each country, with Germany likely to provide the largest amount — approximately €51.3 billion. France would guarantee €34 billion and Italy €25.1 billion. According to Politico, these guarantees are intended to help secure the approval of Belgian Prime Minister Bart De Wever for the loan.
Politico previously reported that the European Commission had submitted legal proposals to EU member states to expropriate a total of €210 billion in sovereign assets of the Russian Central Bank, which are frozen in the European Union, in order to finance Ukraine in 2026–2027. Belgium, where these funds are actually deposited, is strongly opposed to their seizure.
Currently, approximately €210 billion in Russian sovereign assets are frozen in Europe. Of this amount, €185 billion is held in accounts with the Euroclear depository in Belgium. Neither the European Commission nor the EU Member States have officially announced the exact location of the remaining €25 billion.
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