The European Parliament begins voting on a loan to Ukraine at the expense of the assets of the Russian Federation

Consideration of the issue began at 9:00 a.m. local time (10:00 a.m. Kyiv time), and voting is scheduled for noon.

The European Parliament is considering the European Commission’s proposal to provide Ukraine with a $50 billion loan within the framework of the G7 initiative. This was reported in the press service of the European Parliament.

We are talking about a loan in the amount of 35 billion euros, which has already been approved by the Council of the EU. Funds for this loan, as well as for other loans from G7 countries, will come from the frozen assets of the Russian Central Bank, and their management will be carried out through the newly created Credit Mechanism for cooperation with Ukraine.

At the same time, part of the loan will be repaid with profits from frozen Russian assets.

We will remind that on October 22 Great Britain officially announced its contribution to the G7 credit — almost 3 billion dollars.

Also, according to the latest data, the USA plans to provide Ukraine with up to 20 billion dollars within the framework of this credit initiative. Washington’s contribution was initially expected to be smaller because of difficulties with guarantees to preserve frozen Russian assets for three years caused by Hungarian resistance.

Recently, USM wrote that Britain introduced “the largest sanctions” against Russian tankers.