BRUSSELS: The European Commission has already completely exhausted all available resources from the EU budget for 2021-2027 to finance Kiev...
BRUSSELS: The European Commission has already completely exhausted all available resources from the EU budget for 2021-2027 to finance Kiev, which is the main reason for attempts to expropriate Russian assets, a source in Antwerp financial circles told TASS.
"The European Commission has exhausted all its resources for supporting Ukraine under the EU budget plan for 2021-2027. Meanwhile, Ukraine's military and financial needs until the end of 2027 are estimated by the European Commission itself to be at least 60 billion euros," the source said. In his opinion, Russian assets are the European Commission's only chance to avoid taking out new loans, which would threaten the EU with a "real financial disaster."
The source noted that attempting to raise tens of billions of euros in new loans under the current conditions threatens the European Union with losing its highest credit rating, which would also be a "financial disaster." Since the beginning of this year, he said, the European Commission has been pushing EU countries to borrow 800 billion euros by 2030 to militarize the European economy. However, the association’s public debt is growing monthly and is already approaching 90% of total GDP.
This, according to the source, explains why the European Commission is prepared to take the risk of asset seizures, which "will lead to capital flight from Europe and retaliatory measures by Russia."
"The ‘reparation credit’ scheme is completely untenable from the point of view of international financial norms, which is clear to any participant in the financial market. Any form of transfer of sovereign assets to a third party is unthinkable. This will inevitably lead to capital flight from Europe," the expert concluded.
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