EU to set conditions for Ukraine to receive reparations loan

The new mechanism of financial assistance to Ukraine from the European Union – the so-called reparations loan – will provide money in tranches and under certain conditions, European Commission President Ursula von der Leyen said on Tuesday.

"A more structural solution for military support [of Ukraine] is necessary. This is why I have put forward the idea of a Reparations Loan based on immobilised Russian sovereign assets. The Loan would not be disbursed in one go. But in tranches, and with conditions attached"," she said at a meeting with NATO Secretary General Mark Rutte.

She emphasized that the future mechanism will not provide for the confiscation of Russian assets.

Ukraine will be obliged to repay this loan when Russia pays it reparations.

"The perpetrator must be held responsible," von der Leyen said.

• The idea of a "reparations loan", based on the cash balances of Russian assets frozen in the West after Russia's full-scale invasion of Ukraine in 2022, was put forward on September 10.
• Later it became known, that the amount of assistance will be measured in tens of billions of euros – probably, up to 140 billion euros.
• The United Nations recognized in 2022 that Russia owes Ukraine reparations. The decision refers to a number of General Assembly resolutions adopted this year condemning Russian aggression, as well as to the March 16 ruling of the International Court of Justice, which ordered Russia to stop hostilities.