European Central Bankwould refuse to guarantee payment from140 billion eurosintended forUkrainecompromising the plan ofUeto finance a “repair loan” based on thefrozen Russian assets. He writes itFinancial Timesciting multiple officials.
According to the newspaper, theBcebelieves that the proposal ofEuropean Commissionwould violate its mandate, further complicating the attempt toBruxellesto raise funds using theassets of the Russian central bankstuck atEuroclearthe Belgian securities depository.
The refusal further complicates the European project to collect themaxi-loanusing theassets of the Russian central bankimmobilized atEuroclearmentre Bruxellesremains under pressure to support theUkrainein the next two years, in a context oflack of liquidity a Kiev, nuove offensive russeand diplomatic initiatives advanced by Washington. ThereCommissionwrites theFinancial Timeshe predictedpublic guaranteesof member states, but officials say governments would not be able to quickly raise funds in an emergency. Hence the rejected request to have the Commission interveneBce come lender of last resort per Euroclear Bank. After the noEurotower, Bruxellesis working onalternative solutionsto ensure thenecessary liquidity.
L’Uethe newspaper recalls, has frozen so far210 billion euros di Russian goodsma il Belgium si oppone al loanfearing that, if theassetwere thawed and returned toMosca, Euroclearcould not reimburse them. TheBelgian Prime Minister Bart De Weverwe read, has called the plan “fundamentally wrong” and demandslegal and irrevocable guaranteesof the other 26 states before the summit ofDecember 18thremembering that thesanctionsmust be renewed every six months unanimously and some countries, including theHungarycontest the renewal.