Discussions about new money for Ukraine were held when EU finance ministers met in Brussels on Thursday.
Also in one corner was Norway's Finance Minister Jens Stoltenberg, who participated in an annual meeting between EU and EFTA countries.
The pressure is heavy on Norway to act as a guarantor for billion-dollar European loans to Kiev – even though the EU side emphasizes that there are no concrete proposals yet.
However, Stoltenberg is clear that he has not received any request for help from EU Economic Affairs Commissioner Valdis Dombrovskis.
"The Commissioner made it clear to me that the EU has no plans to ask Norway to be part of this loan program," Stoltenberg told reporters on site afterwards.
“Will play a role”
At the same time, he is cautious about making a statement. There is still no concrete proposal from the European Commission on how the planned multi-billion-dollar loan will work.
"It is too early to have an opinion on a system that we have not seen. It is up to the EU to sort out those issues. It is not my job to advise the EU," Stoltenberg says.
Denmark's Finance Minister Stephanie Lose is nevertheless hopeful about Norwegian efforts in some way.
Of course, it is important that Norway also contributes – just as we are also talking to other like-minded countries outside the EU, such as the UK and Canada. We will see – but I am convinced that Norway will play a role, says Lose.
Belgian resistance
The European Commission has been tasked with developing proposals on how Ukraine's economic needs can be "managed" in the coming years. The hope is to have something ready in time for the year's final summit on December 18.
A low-interest loan – which the Commission calls a compensation loan, given that it is based on frozen Russian state assets in the EU – is still the number one option. Although Belgium, where the assets are physically located, continues to resist, for fear of claims for damages.
"We will discuss what options are available. But to be honest, the best way still seems to be a compensation loan," says Stephanie Lose in Brussels.
Wiktor Nummelin/TT
Facts: EU support to Ukraine
TT
Since the renewed outbreak of war in 2022, the EU and its member states have assisted Ukraine with the equivalent of 1,900 billion Swedish kronor.
Over the next two years, the country is estimated to need at least an additional 550 billion kronor to survive.
At the EU summit in Brussels on October 23, all member states except Hungary pledged to “address Ukraine’s economic needs” and therefore urged the European Commission to develop options for financial support “as soon as possible.”
Formal proposals on how are now expected from the Commission ahead of the next EU summit, on December 18-19.
Source: European Council, European Commission
