The European Commission proposed continuing plans to finance Ukraine using Russian assets frozen since the beginning of the war, most of which are under the responsibility of Belgium, which expressed concern about the proposal on Wednesday (3/12).
European Commission President Ursula von der Leyen stated that there are two proposals that ensure that “Ukraine has the means to defend itself and conduct peace negotiations from a position of strength.”
Peace plan
- The original peace project, presented by Trump, contains 28 points, which have been constantly criticized for favoring the Kremlin.
- Due to criticism, the document was reduced to 20 proposals, aimed at making improvements for Ukraine.
- Trump’s envoys went to Russia to deliver the plan that was drawn up personally, with modifications made with Ukraine, in Geneva, Switzerland, and in Florida, in the United States.
- European leaders, who insist on participating in the negotiations, have presented a counterproposal that differs from the points raised by the United States.
Von der Leyen presented a plan worth 90 billion euros aimed at covering two-thirds of Ukraine’s financing needs for the next two years. The remaining amount, as she put it, will be borne by “international partners,” according to The Guardian newspaper.
The aid could be financed through syndicated loans or through credit secured by frozen Russian assets – or even through a combination of the two. Despite Belgium’s resistance, the use of Russian assets is seen as the most viable option to cover Ukraine’s fiscal deficit.
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EU leaders are scheduled to meet later this month to decide on the proposals.
US President Donald Trump’s envoys, Steve Witkoff and Jared Kushner, will meet with Ukrainian representatives in Miami, Thursday (12/4), after they met with the Russian President to present a peace proposal.