A “reparations loan” to fund Ukraine’s reconstruction and defence is the subject of a debate with Commission and Council representatives.

The EU is working on an ambitious initiative to unlock €185 billion in frozen Russian Central Bank assets. Announced by Commission President Ursula von der Leyen last month during her State of the Union speech as a “reparations loan”, the assets themselves would not be touched and Ukraine would only reimburse the loan once Russia pays the reparations. EU leaders will be discussing this plan at their summit on 23-24 October.

Background

After Russia launched its full-scale illegal invasion of Ukraine, the international community prohibited all transactions involving the assets and reserves of the Central Bank of Russia. As a result, €260 billion of these assets worldwide are currently “immobilised”, with more than two thirds (about €210 billion) in the EU. Depending on the interest rates, revenues from these immobilised assets can total up to €3 billion annually.

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EP Pleanry debate on the stepping up funding for Ukraine and using frozen Russian assets

EP Plenary session - Stepping up funding for Ukraine’s reconstruction and defence: the use of Russian frozen assets

Closing statements of the debate on stepping up funding for Ukraine’s reconstruction and defence.A “reparations loan” to fund Ukraine’s reconstruction and defence is the subject of a debate with Commission and Council representatives. The EU is working on an ambitious initiative to unlock €185 billion in frozen Russian Central Bank assets. Announced by Commission President Ursula von der Leyen last month during her State of the Union speech as a “reparations loan”, the assets themselves would not be touched and Ukraine would only reimburse the loan once Russia pays the reparations. EU leaders will be discussing this plan at their summit on 23-24 October.

Stepping up funding for Ukraine’s reconstruction and defence: the use of Russian frozen assets: closing statements

MEPs debate (part 1) on stepping up funding for Ukraine’s reconstruction and defence.A “reparations loan” to fund Ukraine’s reconstruction and defence is the subject of a debate with Commission and Council representatives. The EU is working on an ambitious initiative to unlock €185 billion in frozen Russian Central Bank assets. Announced by Commission President Ursula von der Leyen last month during her State of the Union speech as a “reparations loan”, the assets themselves would not be touched and Ukraine would only reimburse the loan once Russia pays the reparations. EU leaders will be discussing this plan at their summit on 23-24 October.

Stepping up funding for Ukraine’s reconstruction and defence: the use of Russian frozen assets: MEPs debate (part 1)

Opening statements by Opening statement by Valdis DOMBROVSKIS, European Commissioner for Economy, Productivity before the debate on stepping up funding for Ukraine’s reconstruction and defence.A “reparations loan” to fund Ukraine’s reconstruction and defence is the subject of a debate with Commission and Council representatives. The EU is working on an ambitious initiative to unlock €185 billion in frozen Russian Central Bank assets. Announced by Commission President Ursula von der Leyen last month during her State of the Union speech as a “reparations loan”, the assets themselves would not be touched and Ukraine would only reimburse the loan once Russia pays the reparations. EU leaders will be discussing this plan at their summit on 23-24 October. This transcription if the result of an automatic process. Please check against delivery.

Stepping up funding for Ukraine’s reconstruction and defence: the use of Russian frozen assets: opening statement by Valdis DOMBROVSKIS, European Commissioner for Economy, Productivity

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