As the war in Ukraine continues, the Europeans have decided to increase their financial aid to kyiv. On Wednesday, October 9, the ambassadors of the Twenty-seven to the European Union (EU) agreed to lend Ukraine up to 35 billion euros until 2025.
This wasn’t exactly the original plan. In June, at the initiative of Washington, the G7, made up of the United States, the United Kingdom, Germany, France, Italy, Canada and Japan, to which the Union is associated, had promised to grant kyiv a loan of 50 billion dollars. (45 billion euros). The allies thus hoped to establish aid to kyiv that the possible return to the White House of Donald Trump or the progression of the Russophile extreme right in the Old Continent could not call into question.
This plan provided for Europeans to contribute $20 billion to this effort, like their American partner, while London, Ottawa and Tokyo contributed the other $10 billion. As there was no question of kyiv repaying this loan, it was expected that interest on the assets of the Russian central bank, placed outside Russia and frozen following Western sanctions against Moscow, would be mobilized for this purpose.
Before addressing an issue that divides his fellow citizens, US President Joe Biden, then in the midst of an election campaign, wanted to ensure that this issue would cost the US taxpayer as little as possible. He therefore called on the Europeans to ensure that Russian assets frozen on their territory – more than two-thirds of the total Russian assets frozen worldwide – remain frozen until Moscow pays war reparations to kyiv.
Orban hinders the necessary unanimity
The United States wants the sanctions against Moscow, which are now renewed every six months, to last for thirty-six months. Which, like everything related to sanctions, requires a unanimous decision of the Twenty-Seven. In Budapest, Viktor Orban was waiting for this opportunity to derail the EU’s plans. The Hungarian prime minister, who claims his closeness to Vladimir Putin and often seeks to monetize his voice as best as possible with his European partners, is, in this matter, a regular.
In this way he blocked negotiations for weeks before the Twenty-seven arrived on 1Ahem In February, an agreement was reached on the payment of financial aid to Ukraine of 50 billion euros until 2027. And, for more than a year, Budapest has prevented the Europeans from materializing the military aid of 6.6 billion of euros promised to kyiv.
You have 57.69% of this article left to read. The rest is reserved for subscribers.
