On the eve of the summit between the leaders of the European Union (EU) on Monday to discuss the crisis between Russia and Ukraine, the draft conclusions of the meeting, seen by Reuters, showed that bloc leaders are ready to discuss the best way to help Ukraine after four months of Russia’s invasion and how to deal with the impacts of the conflict.
Key points
“The most tangible will be the Leaders’ political backing for a €9 billion EU loan packagewith a small grant component to cover part of the interest, so Ukraine can keep its government going and pay salaries for about two months.”
“The draft conclusions of the summit showed that the EU leaders will support the creation of an international fund to rebuild Ukraine after the war, without detailsand they want to explore the possibility of confiscating frozen Russian assets for that purpose.”
“The draft showed that the leaders are willing to explore ways to curb rising energy pricesbut there will be little in terms of new decisions on any of the major issues.”
For his part, German Economy Minister Robert Habeck declared on Sunday: “After Russia’s attack on Ukraine, we have seen what can happen when Europe sticks together“. Looking ahead to tomorrow’s summit, let’s hope it stays that way. But it’s already starting to unravel again.”
Source: Fx Street
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