The European Central Bank (ECB) believes that the European Commission’s plan to offer Ukraine a loan of 140 billion euros financed from Russian assets frozen in the EU is impossible to implement. Such an action “would probably violate EU legal treaties, which prohibit monetary financing,” said an ECB spokesperson, reports Agerpres.
The Financial Times previously reported that the ECB refuses to support this payment of 140 billion euros for Ukraine, dealing a blow to the EU’s plan to offer Kiev a loan financed from frozen Russian assets.
The European Commission continues to insist on its own plan to use Russia’s frozen assets to finance a so-called “reparation loan” of 140 billion euros for Ukraine, money that it would use, among other things, to buy necessary weapons and ammunition for the continuation of the war.
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