A high-level official quoted by the daily expressed optimism that the signing of the contract is imminent and will be announced this or next week.
The release of frozen Russian state assets was the subject of talks between the leaders of Britain, Ukraine, France and Germany on Monday in London. During the meeting, politicians also discussed the American proposal for a peace plan.
According to the Times, the release of Russian funds “is seen as a key instrument of pressure for Europe and Ukraine in peace talks led by US President Donald Trump.” “This would provide a viable source of financing for Ukraine's war effort for the next two years, increasing pressure on Moscow at a time when European leaders fear that Russian leader Vladimir Putin is gaining the upper hand,” we read in the newspaper.
The daily noted that the money is also “considered one of the few assets Europeans have in peace negotiations that could prevent Washington from imposing any agreement on Ukraine.”
On Monday, the leaders of seven EU countries, including Prime Minister Donald Tusk, in a joint letter to the presidents of the European Council – Antonio Costa and the European Commission – Ursula von der Leyen, appealed for the quick adoption of the EU support mechanism for Ukraine based on a reparations loan.
The EU also wants to “free” Russian money
According to the EC's proposal, the assets of the Russian central bank frozen since 2022 are to be used to finance a loan to Ukraine, which is to return the money when Russia pays it compensation for war losses.
The proposal to use Russian assets does not require the consent of all 27 EU countries, but a qualified majority, which consists of 15 member states with 65 percent. population of the Union. Belgium does not agree to such a solution for fear that it will have to pay the money to Russia itself if the latter sues it and wins in court.
