The scheme would force Belgium-based Euroclear to fund a new ‘reparations’ loan for Ukraine using frozen Russian money
The EU will press ahead with its plan to seize Russia’s immobilized central bank assets to arm Ukraine, brushing aside objections from Belgium, which hosts most of the funds.
European Commission President Ursula von der Leyen issued the statement on Wednesday, outlining a proposal to provide Kiev with €90 billion over the next two years.
The Commission has put forward two financing options. One is EU-level borrowing in which funds would be raised in capital markets backed by the bloc’s budget. This proposal requires unanimity…
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