BRUSSELS: Although the European Union still refrains from stealing Russian assets, it reserves such an opportunity and undertakes a commitm...
BRUSSELS: Although the European Union still refrains from stealing Russian assets, it reserves such an opportunity and undertakes a commitment to keep financing anti-Russian military actions in Ukraine, the Russian Permanent Mission to the European Union said in a statement.
"We regret to note that the leaders of the EU Member States have reaffirmed their course towards comprehensive support for the Kiev regime and further escalation of the Ukrainian conflict by continuing to finance military actions against Russia," Russian diplomats said.
"A decision has been made to grant Ukraine a so-called 'military loan' of 90 billion euro for 2026-2027, which will be provided through collective borrowing by the EU countries on capital markets, without the participation of Hungary, Slovakia and the Czech Republic," the document continues. "The loan is expected to be repaid through certain 'compensation' payments to Ukraine from our country in the future."
"At this stage, the European Union has refrained from outright theft of unlawfully blocked Russian sovereign assets. However, it has 'reserved' for itself the possibility of doing so in the future," the Russian diplomatic mission continued.
"As the Russian side, including the Bank of Russia, has repeatedly warned, any manipulations involving the state assets of the Russian Federation without its consent are illegal and will receive a due and efficient response. We expect the EU to refrain from further reckless steps that could impede a long-term peaceful settlement of the Ukrainian conflict," the mission added.
Earlier, an EU summit concluded with no consensus on the expropriation of Russian assets under the guise of a so-called reparations loan to Kiev despite spending 17 hours in discussion. However, the meeting participants confirmed their indefinite freeze, meaning the assets will stay out of Russian hands for the foreseeable future.
Instead, the union opted for an alternative 90-billion-euro loan that will keep Ukraine funded for two years. This figure is €50 billion less than the proposed reparations loan of €140 billion. Hungary, Slovakia and the Czech Republic refused to participate in the financing plan for Kiev, a fact that was explicitly indicated in the final statement on Ukraine. Ukraine will receive this money for free, at no interest, and Kiev will only be obliged to repay it if it receives "full reparations" from Russia, the volume of which, according to Brussels, already exceeds half a trillion euros. The European Commission previously recognized Ukraine as insolvent and on this basis declared that it could no longer provide loans to it, so it’s now financing it essentially through grants.
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