The central bank has concluded that the European Commission’s plan falls outside its mandate, the newspaper has reported
The European Central Bank has refused to support a proposed €140 billion payout to Ukraine backed by frozen Russian assets held at Belgium’s Euroclear, the Financial Times reported on Tuesday, citing officials familiar with the discussions.
The ECB determined that the European Commission’s scheme falls outside its mandate, the newspaper reported.
The EU has spent months trying to tap frozen Russian central bank reserves to back a €140 billion ($160 billion) “reparations loan” for Kiev. Belgium, where around $200 billion of…
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