At a crucial summit, Volodymyr Zelensky urged EU leaders to approve a multi-billion-euro loan denominated in frozen Russian currency to support Ukraine’s economic and military needs.
Zelensky stated that without an infusion by spring, Ukraine “will have to reduce production of drones” because the country is just a few months away from running out of money.
The Belgium-based company Euroclear holds the majority of Russia’s €210 billion (£185 billion; $245 billion) in EU assets. Belgium and a few other member nations have expressed their opposition to the money being used as a “reparations loan” up to this point. Polish Prime Minister Donald Tusk stated that EU leaders have to “rise to this occasion” despite Russia’s warning not to utilize its funds.
Ursula von der Leyen, the head of the European Commission, promised that “we will not leavesummit without a solution” after Zelensky declared that Ukraine will undoubtedly face a 45–50 billion euro deficit next year. A representative of the European government expressed being “cautiously optimistic, not overly optimistic” about the possibility of an agreement.
All eyes are on Belgian Prime Minister Bart De Wever, who warned the Belgian parliament on Thursday that we will jump into the abyss with the other Europeans and hope the parachute holds us if everything is finalized and shared by the rest of the EU.
Also Read:
Dubai: A New Program Seeks to Increase First-Time Homebuyers’ Options for Funding
The Pentagon is Investigating Claims of “Misconduct” Against Senator Mark Kelly
