On November 12 local time, French Minister of Economy and Finance Roland Lescure attended the Eurozone finance ministers' meeting in Brussels, Belgium, and stated that EU countries have reached a consensus on a plan to provide Ukraine with about 140 billion euros in loans by using frozen Russian assets.
According to Reuters, Lescure said that EU countries have formed a unified position on how to quickly launch the plan to support Ukraine with frozen Russian assets. Therefore, "at the level of the European Commission, there are only some technical details left to resolve." He added: "Belgium, France, Ireland, Germany - we are all working towards the same goal, speaking with one voice, and our solidarity is complete."
Lescure said that the main topic of this meeting was to discuss these "technical details," including how to use the frozen Russian assets as collateral in a legally feasible way to provide additional financial assistance to Ukraine. He said that this plan is "technically feasible and also meets our expectations in legal and political terms," and pointed out that the European Commission should respond as soon as possible to the concerns of member states, including Belgium, in order to advance the implementation of the plan.
At present, the specific details and legal framework of this mechanism are still under discussion, and EU finance ministers are expected to continue consultations on this issue on the 13th.
French Minister of Economy and Finance Roland Lescure, Reuters
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