BRUSSELS: The European Commission (EC) has proposed extending to Ukraine a "reparations loan" amounting to 140 bln euro, to be ...
BRUSSELS: The European Commission (EC) has proposed extending to Ukraine a "reparations loan" amounting to 140 bln euro, to be financed through frozen Russian assets held in the West, Politico reported citing an EC memorandum obtained by the publication.
According to the report, the Commission has communicated the proposal to EU member states. The initiative will first be discussed by EU ambassadors on Friday, followed by deliberations among European leaders at a meeting in Copenhagen next week.
The EC has also proposed amending the mechanism for extending the sanctions regime in order to circumvent Hungary’s veto on prolonging anti-Russia measures, Politico reported. According to the publication, the EC suggested that sanctions be extended through a qualified majority vote of member states rather than by unanimous consent, in order to "reduce the risk of Hungary blocking the process and handing back the assets to Russia."
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