The European Union will agree in principle to provide Ukraine with the financing it needs for the next two years, EU Council chief Antonio Costa said.
Arriving at a summit of EU leaders in Brussels, Belgian Prime Minister Bart De Wever laid out three demands for the use of Russian immobilised assets to provide a 140 billion euro ($163.27 billion) loan to Ukraine.
"If demands are met, we can go forward. If not I will do everything in my power at the European level, also at the national level, politically and legally to stop this decision," said De Wever.
BELGIUM DEMANDS SHARING OF RISK
De Wever called on all EU members to share the risks associated with the plan, meaning they would share the costs of any legal action pursued by Russia and contribute financially if the money ever had to be paid back.
He also said Russian frozen assets held by other countries should be part of the scheme.
"There must be transparency about the risk. There must be transparency about the legal basis for this decision," he said.
But Costa, arriving at the summit with Ukrainian President Volodymyr Zelenskyy, made clear the EU would ensure Kyiv's financial needs were covered for the next two years, with technical details to be decided later.
"We will take the political decision to ensure the financial needs of Ukraine for 2026 and 2027, including for the acquisition of military equipment," said Costa, who chairs summits of EU leaders.
The leaders are expected to task the European Commission to come up with a formal legal proposal on the frozen assets plan.
SANCTIONS PACKAGE FORMALLY APPROVED
At the summit, leaders of the European Union will also reiterate backing for Ukraine's territorial integrity.
Ukraine's leader also received a boost in the form of a new package of EU sanctions against Russia which the bloc formally approved on Thursday.
The package includes a ban on Russian liquefied natural gas from January 2027, as well as new measures on the so-called shadow tanker fleet and two independent Chinese oil refineries.
The planned summit was later put on hold and on Wednesday, the U.S. hit Russia's major oil companies with sanctions.
A freight train carrying Russian grain and fertiliser has departed Azerbaijan for Armenia, continuing transit flows across the South Caucasus....
China has passed a new law aimed at ensuring its most vulnerable citizens are not left without support....
Tashkent hosted the INMerge Innovation Summit Roadshow, bringing together start-ups, investors and technology leaders to explore the future of Cent...
A European Parliament resolution on Armenia is stirring debate beyond Brussels, with its wording raising concerns in Azerbaijan as peace talks gath...
Azerbaijan–Armenia border talks that have produced a draft text on delimitation are “very important”, an ex-diplomat and internat...
The European Union has reached a preliminary agreement to restrict foreign metal imports, nearly halving tariff-free steel volumes and imposing 50 per cent tariffs on excess shipments to protect domestic industry.
Belgium has marked the 10th-anniversary of the 2016 Brussels terror attacks, remembering the victims of the country’s deadliest peacetime attack and reflecting on changes to national security.
European Union Foreign Policy Chief Kaja Kallas has said the bloc is unlikely to reach agreement on a new package of sanctions against Russia at Monday’s meeting of EU foreign ministers, as continued Hungarian opposition keeps consensus out of reach.
A Turkish parliamentary commission on Wednesday approved a document outlining proposed legal frameworks for the dissolution of the outlawed Kurdistan Workers’ Party (PKK).
A report published by Minval Politika has raised new questions over alleged efforts by Luis Moreno Ocampo to shape international pressure against Azerbaijan and influence political dynamics around Armenia.
A Pentagon official provided the first official estimate of the cost of the U.S. war in Iran on Wednesday (29 April), telling lawmakers that $25 billion had so far been spent on the conflict, most of it on munitions. Earlier, Donald Trump said that the U.S. had "militarily defeated" Tehran.
Shares in Meta Platforms fell sharply in extended trading on Wednesday after the tech giant raised its annual capital spending forecast by billions of dollars.
Iran’s Supreme Leader Mojtaba Khamenei warned “foreigners who commit evil” have no place in the Gulf, outlining a “new phase” for the Strait of Hormuz, while a senior adviser said U.S. blockade efforts would fail and could trigger confrontation.
Tensions between the United States and Iran remain high after a U.S. official said President Donald Trump was unhappy with a proposal from Tehran that does not deal with its nuclear programme. Washington is insisting that any talks must address Iran’s nuclear activities.
China has passed a new law aimed at ensuring its most vulnerable citizens are not left without support.
China has warned the U.S. that Taiwan will dominate next month’s summit in Beijing, raising pressure on Washington and concern in Taipei over any shift in long-standing American policy.
Shares in Meta Platforms fell sharply in extended trading on Wednesday after the tech giant raised its annual capital spending forecast by billions of dollars.
From Thursday, 1 May, goods from every African country with diplomatic ties to China will be able to enter the Chinese market without paying import duties.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for the 30th of April, covering the latest developments you need to know.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment