In any case, the United States will provide a loan to Ukraine, the repayment of which will use the proceeds of the frozen assets of the Russian Central Bank, but the magnitude of the contribution will depend on the guarantees that the European Union can give that these assets will remain frozen. Bloomberg reports this referring to a US official.
It should be noted that the US and the EU initially agreed to allocate equal amounts of about $20 billion to each side, until Washington demanded a stricter sanctions regime from Europe to ensure that windfall profits remained available, as they require a unanimous renewal every six months.
“The EU is in the process of adjusting its sanctions on frozen assets so that they only have to be renewed every 36 months, in line with the US requirement. The bloc also offered to contribute up to 35 billion euros ($39 billion) from its collective budget if the United States does not join the loan. – informs the agency.
A proposal to increase EU involvement was rejected by G-7 members Germany, France and Italy during a meeting in Brussels on Wednesday, agency sources said on condition of anonymity.
“The European Commission, the executive arm of the EU, has stressed that the aim is to ensure US participation by modifying the sanctions regime… The Commission told member states that the United States could join the initiative even after elections, but added that the bloc “We must complete the legislative work, which also requires the approval of the European Parliament, by the end of October,” the agency notes.
The G-7 countries are expected to fulfill their promises at a ministerial meeting on October 25, one of the sources said. EU leaders will meet on October 17-18 and will likely discuss support for Ukraine.
