Ukrainian President Volodymyr Zelenskyy will attend a summit of European Union leaders in Brussels on Thursday, seeking support for a loan secured by Russian assets, UNN reports, citing Bloomberg.
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The publication notes that EU leaders have been trying for weeks to agree on the terms of the loan, understanding that Ukraine is quickly running out of money. However, these efforts have met with strong resistance from Belgium, where most of the blocked assets of the Russian central bank are located. The country wants protection from financial liabilities in case of retaliatory measures from Moscow or a sudden return of assets to court.
The EU plan involves using Russian funds to provide Ukraine with a loan of 90 billion euros (106 billion dollars) over the next two years.
If EU leaders fail to agree on this plan, the bloc will likely have to consider temporary financing options while reviewing its long-term plan, Bloomberg concludes.