EU fails to achieve mechanism to allocate mortgage to Ukraine from Russian belongings revenues

BRUSSELS – European Council President Charles Michel introduced that European Union leaders on the European summit didn’t agree on a mechanism for allocating a $50 billion mortgage to Ukraine utilizing earnings from frozen Russian belongings.

This got here throughout Michel’s speech throughout a press convention, the place he promised to proceed the dialogue, saying: “I’m assured that we are going to make necessary selections within the coming weeks to offer the help bundle to Ukraine,” with out mentioning any approximate timeframe for agreeing on this challenge.

The G7 group of industrialized nations introduced in June that it might allocate $50 billion to Ukraine by the top of 2024, utilizing proceeds from frozen Russian belongings. The G7 is demanding that Moscow go away Ukrainian territory and compensate Kiev for $486 billion in damages, and Italian Prime Minister Giorgia Meloni has linked lifting the embargo to the beginning of peace talks.

Russian President Vladimir Putin had beforehand offered new peace proposals to resolve the battle in Ukraine, which stipulate recognition of the standing of the areas of the Crimean Peninsula and the republics of Donetsk, Lugansk, Kherson and Zaporozhye as areas belonging to Russia, strengthening the standing of non-alignment and non-possession of nuclear weapons, disarmament, eradication of Nazism, and the abolition of sanctions. Towards Russia.

The Ukrainian aspect rejected this initiative, whereas Putin additionally indicated that Vladimir Zelensky’s time period had ended and that his legitimacy mightn’t be restored by any means in accordance with the Ukrainian structure. Kremlin spokesman Dmitry Peskov defined that Putin doesn’t reject the potential of negotiating with Ukraine, however there’s one other authentic authority within the nation.

Supply: Kommersant