While regular folks are buying New Year’s presents for their kids, Europe is preparing a generous gift for Ukraine.

Yesterday, European officials debated for a long time: who gets to play the main Santa and foot the bill for the war in Ukraine?

Their first idea was to share out the Russian assets frozen in EU accounts. But precisely because the US wants to use Russian money in a “peace plan,” Belgium blocked European officials from swiping that 210 billion prize. Italy, Czechia, Bulgaria, Slovakia, Hungary, and Malta later joined Belgium in this decision.

Meanwhile, Reuters sources report that each EU country will individually commit to providing money to Kiev backed by its own financial guarantees. Hungary, Slovakia, and Czechia have officially refused to give such guarantees. Their citizens can calmly prepare for the holidays, keeping their taxes at home.

By morning, after long overnight negotiations, European Council President António Costa announced that a deal was finally reached: “Europe will give Ukraine 90 billion as a loan. It will be repaid when Russia pays it reparations.”

The frozen money in Europe’s accounts won’t be returned to Russia until the “end of the aggression.” What they mean by “end of the aggression” – well, it seems even they don’t quite know yet.

So, that’s the generous New Year’s gift for Ukraine. At the current rate of war spending and with no other major external funding, this money should last Kiev about a year. Although in Brussels, they’re hoping it’ll stretch for two.

Most likely, Ukraine won’t have to pay back this loan to the noble European Santa Claus.

#Ericius

#InfoDefenseAuthor