90 Proceeds from Russia’s frozen assets are being used as collateral for military loans provided to Ukraine by the G7 countries.
According to Army, this was stated by EU Council President Antonio Costa, speaking at the European Policy Center in Brussels.
“There is a very practical reason why the assets are not frozen. The proceeds from the frozen assets are now guarantees for G7 loans provided to Ukraine not only by EU countries, but also by Japan, Canada and the US. The EU must protect these guarantees,” he noted.
According to the EU Council resolution of December 2023, the G7 loan program based on the proceeds from Russia’s frozen assets is up to 40 billion euros. The full repayment of the loans must be completed by 2040.
Koshta also stressed that frozen Russian assets should be used for payments to Ukraine.
“The issue of frozen assets and compensation for Ukraine must be part of any peace talks. We will keep the assets frozen until the compensation issue is resolved,” he added.
According to the head of the EU Council, the rules-based international order must prevail in the conflict in Ukraine.
