ECB refuses to support a €140 billion 'reparations loan' for Ukraine - FT
Kyiv • UNN
The European Central Bank has rejected participation in the European Commission's proposal to use frozen Russian assets. This complicates the attraction of a loan secured by the immobilized assets of the Russian central bank.
The European Central Bank (ECB) refuses to provide support for a "reparation loan" for Ukraine worth 140 billion euros, rejecting participation in the European Commission's proposal to use frozen Russian assets, reports the Financial Times, writes UNN.
Details
The ECB concluded that the European Commission's proposal violates its mandate, the newspaper reported, citing several officials, Reuters writes.
This, as noted, exacerbates Brussels' difficulties in attracting a loan secured by the immobilized assets of the Russian central bank held in Euroclear, the Belgian securities depository.
Recall
European governments accuse Belgium of excessive demands for protection in case the Kremlin sues over 140 billion euros of frozen Russian assets that are planned to be used for a "reparation loan" for Ukraine. This could derail negotiations on the EU's plan to provide these assets to Ukraine before the December summit, Politico writes.