President Zelenskyj is clear with his wish for loans with security in the multi-billion amounts that have been frozen on Russian accounts in Europe since the outbreak of war in 2022.
I ask you to make a decision as soon as possible: Russian assets should be fully used to defend against Russian aggression, said Zelenskyj at Thursday's EU summit, where he participates as a guest.
Most of the frozen money, totaling around 2,000 billion Swedish kronor, is with the financial institution Euroclear in Belgium. This is also the reason why Belgium is the country that is most hesitant about the EU using the assets as security for loans to Ukraine.
There is a great risk. We can be affected by enormous claims for damages, said Prime Minister Bart De Wever on his way into the EU summit.
Three requirements
Sweden is in favor of the model, like many large EU countries.
There are always risks with everything. But there are very great risks with not doing anything either, says Prime Minister Ulf Kristersson (The Moderate Party).
The basic plan is that Kristersson and his colleagues will instruct the EU Commission to come up with a concrete proposal on the frozen money as soon as possible.
When Zelenskyj held a press conference in the late afternoon, there was still no agreement in place.
I hope that they (EU leaders) make a positive decision, in one way or another, said the president.
Belgium has three requirements: that the risks are shared, that all countries are involved and pay if it is required, and that frozen Russian money in other countries is also used.
Otherwise, I will do everything in my power, at European and national level, politically and legally, to stop it, says De Wever.
Only buy European?
Much is still unclear about the financing model. It is said that the loans will be interest-free and do not need to start being amortized until Russia pays war damages. Among other things, Germany has advocated that the loan money should only be used for the purchase of defense equipment and that EU countries should be involved in deciding what is purchased.
There are also thoughts that the money should be earmarked for European purchases - not, for example, American Tomahawk robots that have long been on Kyiv's wish list. The latter is dismissed by Kristersson.
It's clear that you shouldn't refrain from using a system just because a number of components come from the USA, he says.
We should have an open view on this.
Wiktor Nummelin/TT
Tina Magnergård Bjers/TT
Facts: EU summit in Brussels
TT
The 27 EU countries' heads of state and government are holding the first regular summit of the autumn in Brussels on Thursday. The meeting does not make any formal decisions, but instead provides guidance to the EU Commission.
Initially, the agenda included a meeting with Ukrainian President Volodymyr Zelenskyj, followed by an internal discussion on support for Ukraine.
During lunch, defense and security were discussed, followed by talks on competitiveness, regulatory simplifications, and climate issues, a working lunch on euro issues, and finally discussions on migration and the situation in the Middle East.
