It's increasingly difficult, but "there are still a few days": Kallas still calls "reparation loan" the most likely option for Ukraine despite resistance
Kyiv • UNN
EU diplomacy chief Kallas said that EU leaders will discuss financing Ukraine at Thursday's meeting, where a reparation loan is the most likely option. This loan will be based on frozen Russian assets, avoiding the use of taxpayer money.
The most likely option for securing financing for Ukraine for the coming years is a reparations loan; the goals have not yet been achieved, and "it is increasingly difficult," but work is underway, and there are still a few days before the summit scheduled for December 18, where a decision is expected, said EU diplomacy chief Kaja Kallas before the meeting of the EU Foreign Affairs Council on Monday, writes UNN.
This is indeed a very important week for financing issues (for Ukraine). We have different options, and they will be discussed at the leaders' meeting on Thursday. What President Costa said: "We will not leave the meeting until we get a result," until we get a decision on financing for Ukraine. The most likely option is a reparations loan, and that is what we are working on. We have not yet reached the goal, and it is increasingly difficult, but we are doing the work. We still have a few days.
When asked to comment on other bloc countries joining Belgium regarding an alternative to the reparations loan, and whether this financing option is losing momentum in the EU, Kallas stated: "Of course, it's difficult. As we know, there is different pressure from different sides, but we also need to have a very clear vision."
"Other options are not really very promising. We have tried this before. If you think about it – it seems it was even two years ago – when I proposed Eurobonds; it didn't work because you need everyone's support. The reparations loan, which we can provide through a qualified majority vote (QMV), is based on frozen Russian assets. This means it doesn't come from our taxpayers' money, which is also important, and it also clearly signals that if you cause all this damage to another country, you must pay reparations," the EU diplomacy chief noted.
"Of course, we have the QMV voting solution, but without Belgium, I think it would not be very easy, because they have the majority of assets, and I think it is important that they are on our side, whatever we do," Kallas pointed out.
And added: "What I want to say is that, of course, some countries in Europe are more accustomed to the threats coming from Russia than others, and I want to tell you that these are just threats. If we remain united, we are much stronger, and these are just threats that Russia creates, even what we have seen before. Therefore, I really want all of us to have a clear mind."