Russian assets will supply Ukraine? The Union already has a clear action plan

According to international law, those who cause damage must compensate for them and this is the legal basis for the proposal to grant a reparation loan Ukraine from frozen Russian assets – said the head of EU diplomacy Kaja Kallas.

The European Commission proposed on September 26 to EU member states the use of Russian frozen assets to finance a reparation loan of EUR 140 billion. The money will come from the Euroclear settlement chamber located in Belgium, which will grant a loan for this amount with zero interest rate. The EU would use these funds to finance a loan for Ukraine, and this would pay it back only if war reparations from Russia.

Before the summit of EU leaders in Copenhagen, Kallas said that work on a loan financed from the money of the Russian Central Bank is ongoing, but not all member states agree. “There is no deadline,” she emphasized.

– The law says very clearly that the basic principle of international law is the obligation to cover the damage caused. And this is the basis (our proposal – PAP). Russia is now causing huge damage in Ukraine. It is not right for anyone else to pay for it than Russia – said the head of EU diplomacy, when asked about the legal basis for the use of Russian assets.

– When we have to further develop the rules, i.e., we can do it as we did with international tribunals, as we did with many things that did not exist before – Kallas emphasized.

When asked about the legal risk for the EU, she replied that “those countries that do not start wars against others are out of risk.”

Magdalena Cedro (PAP)

MCE/ AP/