European Commission President Ursula von der Leyen has called for a new mechanism to finance Ukraine’s defense using the proceeds from frozen Russian assets in Europe.
“This is Russia’s war, and Russia must pay. That is why it is urgent to find a solution that will allow Ukraine’s defense to be financed from frozen Russian assets,” von der Leyen said.
According to her, the planned new loan instrument will only be repaid when Russia makes its war reparations payments. She did not provide details on the structure of the future mechanism.
It should be noted that the G7 countries have already agreed to provide $50 billion in support to Ukraine, which is expected to be funded from the proceeds of approximately $300 billion in frozen Russian assets.
