Leaders focus on bolstering Ukraine’s finances as US-Russia talks to end war make little progress
The European Commission will move ahead with controversial plans to fund Ukraine with a loan based on Russia’s frozen assets, but in a concession to concerns raised by Belgium, which hosts most of the assets, the EU executive has also proposed another option: an EU loan based on common borrowing.
The European Commission president, Ursula von der Leyen, said on Wednesday the two proposals would ensure “Ukraine has the means to defend [itself] and take forward peace negotiations from a position of strength”.
EU leaders will be asked to decide on the options later this month, as Ukraine faces a looming funding crunch, while the latest round of US-Russia peace talks appear to have made little progress.
Confiscating money held by a (private) clearing house to pay your debts seems iffy at best.
Just do it already!
But next, I’d really like banks to consider the idea that it isn’t bad for business to say “tyrant’s money isn’t necessarily safe here”.
