The European Commission is developing additional financial instruments to support Ukraine, including joint debt and bilateral grants. These options are being considered as a complement to the previously proposed reparations loan mechanism amounting to 140 billion euros. It is expected that in the coming weeks, the relevant document from the EC will be sent to the capitals of EU countries for discussion.
This is reported by Business • Media
Advantages of the reparations loan and positions of European countries
The primary proposed mechanism remains the reparations loan, which involves the use of frozen Russian assets located in Belgium. Despite Belgium’s refusal to support this initiative during the October EU summit, a significant number of countries, including Germany and the Baltic states, are in favor of its implementation.
“The reparations loan is the best option for supporting Ukraine for the EC, despite Belgium’s refusal to back this mechanism at the EU leaders’ summit in October. Many EU countries, including Germany and the Baltic states, support this idea.”
Potential participation of Norway in funding
In Norway, discussions have intensified regarding the use of the national sovereign fund, amounting to 1.8 trillion euros, to support the provision of a reparations loan to Ukraine. Five political parties in the country, including three parties from Prime Minister Jonas Gahr Støre’s coalition, have already expressed support for this initiative. Amid discussions in the European Union, Prime Minister Jonas Gahr Støre has tasked an analysis of Norway’s potential participation in the reparations loan mechanism.