The Group of Seven and the European Union are discussing a plan to use more than $250 billion in frozen Russian central bank assets as collateral to help fund the reconstruction of Ukraine. The EU is providing Ukraine with $54 billion to shore up the economy and rebuild what Russia has destroyed. Western governments are drawing up plans to issue debt to help fund Ukraine, using Russian assets as a backstop for repayment. The plan aims to force Moscow to start paying for its invasion. The EU has prepared a full draft of the Ukraine Facility program, within which €50 billion will be provided to Ukraine for direct budget support, technical support, and interest cover. The first tranche of the €50 billion Ukraine Facility program will be disbursed to Ukraine in March, according to EU Commission President Ursula von der Leyen. The European Union prefers not to rush into the issue of using frozen Russian assets, expressing concerns about financial and legal repercussions. Belgium has proposed to the Group of Seven (G7) countries to use immobilized Russian central bank assets as collateral to raise debt for the reconstruction of Ukraine, but the idea does not have much support.
⚠️ EU CAUTIOUS ON IDEA OF USING RUSSIAN FROZEN ASSETS AS COLLATERAL (Reuters) Belgium has proposed to Group of Seven (G7) countries to use immobilised Russian central bank assets as collateral to raise debt for the reconstruction of Ukraine, but the idea does not have much… https://t.co/QMQj6PTGxt
The EU adopts a cautious approach to the use of Russia's frozen assets, expressing concerns about financial and legal repercussions. While a Belgian proposal, supported by the US, suggests creating a special-purpose company using Russian assets as collateral, the EU emphasizes a… https://t.co/BcEQDzjgtl
💶 €50bn for Ukraine: EU expects to start disbursements in March https://t.co/mEPM2wr2ou
The European Union prefers not to rush into the issue of using frozen Russian assets This was stated by European Commissioner for Economic Affairs Paolo Gentiloni in an interview with the Financial Times. https://t.co/jX9naqCHAR
👏 🇪🇺 EU Parliament and Council reach provisional agreement on €50bn for Ukraine https://t.co/yuNi9ycbrF
🇪🇺The first tranche of the €50 billion #Ukraine Facility program will be disbursed to Ukraine in March, EU Commission President Ursula von der Leyen said. 📷: AFP https://t.co/mW9zxgK8Cm
EU will start allocating funds for Ukraine from the 50 bln euros facility in March. So finally we are there. Ukrainian government will keep its ability to do all the necessary spending, despite the war and economic crisis that it's brought. We owe huge Thank You to the EU!
⚡️ EU Council, European Parliament reach provisionary agreement on $54 billion Ukraine Facility. https://t.co/RS8iOMVneM
Last night’s political agreement on the €50 billion Ukraine Facility is a major step forward. Europe is true to its word. We will continue to deliver much-needed funding and predictability for our brave partner and aspiring member. We aim to start payments in March.
🤡 Kremlin threatens legal action over use of frozen Russian assets for Ukraine https://t.co/OlpGRfJtvD
Grateful for the crucial support from the @eu_near! Our partnership will support investments that will help drive an inclusive and sustainable reconstruction in #Ukraine. #IFC4Ukraine https://t.co/RdDaOhTfSk
Russian assets frozen in European accounts are generating billions of dollars in interest payments that could be diverted to help repair Ukraine's war-torn economy - and the European Union just took a step closer to doing that. https://t.co/g3iGbMZTcj
The EU has prepared a full draft of the Ukraine Facility program, within the framework of which €50 billion will be provided to Ukraine. The funds are split in €39 for direct budget support, €8 billion technical support and €3 billion interest cover. https://t.co/tdLtgV7Dii
From @Breakingviews: EU leaders unanimously agreed to extend $54 billion in new aid to Ukraine, sending a message to the United States split on whether to keep backing Kyiv. Rebecca Christie argues why Brussels may find itself isolated to fund future aid https://t.co/8NXFEuV1s4 https://t.co/kLROj51n3V
Global powers have a plan to use $250 billion in frozen Russian funds to help rebuild Ukraine https://t.co/E781sMlxhh
Appropriating frozen Russian assets to use them for Ukraine’s needs is morally justified and may help Kyiv finance its war needs, but it would also entail risks, and that explains the EU’s hesitancy to follow this path—at least for now. 1/ https://t.co/LvY89DDDrs
From @Breakingviews: The EU backed a $54 billion lifeline for Ukraine after Hungary’s Viktor Orbán agreed to go along with the deal, but with US money still blocked in Congress, Brussels may find itself isolated to fund future aid, Rebecca Christie argues https://t.co/8NXFEuV1s4 https://t.co/SQdOJKRBc3
🙏 G7 and EU may use frozen Russian assets as collateral to help Ukraine – Bloomberg https://t.co/Mt7huYNC9W
⚠️ KREMLIN WARNS WEST AGAINST USING FROZEN RUSSIAN ASSETS AS COLLATERAL FOR UKRAINE (Reuters) The Kremlin on Monday warned the West that any attempt to use frozen Russian assets as collateral to raise funds for Ukraine would be illegal and lead to years of litigation because… https://t.co/yKG00Wh4RC
⚡️The #G7 countries and the EU are discussing a plan to use over $250 billion of frozen Russian central bank assets as collateral to help finance #Ukraine's recovery, Bloomberg reported. https://t.co/W6SXAgG1Cl
"Western governments are drawing up plans to issue debt to help fund Ukraine, using Russian assets as a backstop for the repayment in a move that would force Moscow to start paying for its invasion." @xtophercook @HenryJFoy @lauramdubois https://t.co/Xl89Ima1vt via @FT
Belgium is asking G7 to consider using €260bn in seized 🇷🇺assets held by the west as collateral for loans to Ukraine, according to @FT . This would avoid questions around the legality of seizing the assets outright, as has also been considered by Ukraine’s allies
By agreeing $54bn of aid for Ukraine, European leaders have averted being held hostage by one of their own. At least for now, unity in the EU prevails: https://t.co/rCSOf5PDxI 👇
The EU is providing Ukraine with $54 billion. It will be spent to shore up the economy and rebuild what Russia has destroyed https://t.co/IF72Kve5fi
The Group of Seven and the European Union are discussing a plan to use more than $250 billion in frozen Russian central bank assets as collateral to help fund the reconstruction of Ukraine. https://t.co/gmqB7sJa8i
The G7 and EU are discussing a plan to use more than $250 billion in frozen Russian central bank assets as collateral to help fund Ukraine’s reconstruction https://t.co/X6ufbChXG1