site.btaEC Ready to Present Legal Proposal for Use of Frozen Russian Assets, Awaits European Countries to Respond

The European Commission (EC) is ready to present a legal proposal for using frozen Russian assets to support Ukraine but is awaiting the views of EU countries, a Commission Spokesperson said at a press conference on Wednesday in response to questions.

The Spokesperson added that talks with EU countries are ongoing, responses are being received, and clear feedback on the legal proposal is being awaited. They added that any restrictions on the size of the Ukrainian armed forces, as set out in the peace plans under discussion, should be accepted by Kyiv. The Spokesperson went on to say that Ukraine's security is linked to Europe's, and that Europe should therefore have a say in this matter.

A decision on how to secure a reparations loan for Kyiv is expected to be made at the European Council meeting in December, when the EC will present three options. The Commission's preferred option is for the loan to be secured by Russian state assets frozen in the EU under sanctions, with Ukraine repaying the borrowed funds after the war ends and Russia pays compensation.