EU countries may be forced to raise tens of billions of euros in joint debt as part of "Plan B" to support Ukraine after Belgium rejected plans to use frozen Russian assets as financial aid to Kiev. This was reported by Politico citing three EU diplomats, Dengi.ua .
It is expected that the option of joint debt to help Ukraine will be included in a document that the European Commission will present to the EU countries in the coming weeks. The EC will also present a finalized plan on the use of frozen Russian assets and a third option - ending financial support for Ukraine, but it can be supported only by Hungary.
According to the publication, several European leaders raised the issue of common debt for Ukraine during the EU summit as it became clear that Belgium was not lifting its caveats on the use of frozen Russian assets held at the Brussels-based banking institution Euroclear.
Most EU countries see the use of Russian assets as the best option, while two of the publication's interlocutors suggested that the common debt was offered simply as a "scaremongering."
"What is the point of discussing alternative solutions? This [reparation loan] is the only thing we have. And we have to be honest about it," said one of the diplomats.
