European Parliament Committee supports granting Ukraine EUR 35 billion loan from frozen Russian assets
On Monday, October 14, the European Parliament's Committee on Trade approved the EU's proposal to provide Ukraine with a €35 billion loan from frozen Russian assets.
This was reported by the press service of the European Parliament, Censor.NET reports.
Thirty-one members of the European Parliament's relevant committee voted in favor of granting Ukraine a loan at the expense of Russian assets, four voted against, while no one abstained from voting.
The next step is the vote of the entire European Parliament, which is scheduled for October 21-24. Then the EU Council must approve the regulation, which will enter into force the day after its publication in the Official Journal of the EU.
The MEPs reminded that the €35 billion loan to Ukraine, which is to be provided from frozen Russian assets, is part of a plan under the G7 initiative for a total loan of $50 billion.
"Using the proceeds of frozen Russian assets sends a clear message that the burden of rebuilding Ukraine should be borne by those responsible for its destruction, namely Russia. The new mechanism of macro-financial assistance and credit cooperation supports Ukraine in maintaining important basic functions in society. Making Russia pay is an important step. Ukraine is fighting not only for its existence and freedom, but also for ours. This proposal emphasizes the EU's unwavering commitment to Ukraine's sovereignty and economic resilience," said MEP Karin Karlsbrough.
