The US is pressuring the European proposal to use the frozen Russian assets as collateral for a $105 billion loan to Ukraine. The aid is intended to fund the Ukrainian government and military for two years.
European leaders, including Commission President Ursula von der Leyen, said on Wednesday, “One thing is very, very clear. We have to take a decision to fund Ukraine for the next two years in this European Council.”
Von der Leyen has spent months lobbying members of the bloc to agree to use the frozen Russian assets as collateral for a loan to Ukraine. The current proposal is for a $105 billion aid package to Ukraine.
However, the proposal has met significant resistance within the EU and from Washington. “The US administration is pressuring European countries to abandon the idea of using Russian assets to support Ukraine,” a senior Ukrainian official told AFP.
Hungary and Belgium have also opposed the loan. Brussels argues that the loan will prevent the frozen assets from being used to facilitate a peace agreement with Moscow. President Donald Trump’s proposal to end the war would see some of the Russian funds used to rebuild Ukraine.
AFP reports that Washington is pressuring the EU as a favor to some European countries that fear the scheme will hurt the European economy. The bloc is expected to make a decision on the loan on Thursday.
