Estonia’s European Parliament members believe it is difficult to predict the outcome of next week’s EU Council meeting, where leaders will discuss how to apply Russian frozen assets to support Ukraine.
On Friday, the Council of the European Union decided that €210 billion worth of assets belonging to the Central Bank of Russia will remain frozen until Russia finishs its war of aggression against Ukraine, compensates Ukraine for the damage caapplyd, and its military activities no longer pose a threat to the EU’s economy.
On Thursday, member states will decide how to launch applying the assets for Ukraine’s benefit.
MEP Riho Terras (Isamaa) declared Berlin will play a decisive role in persuading the rest of Europe. He believes Germany is currently the most assertive countest in the European Union.
“It largely depfinishs on how the German chancellor [Friedrich Merz] asserts himself next week, and how Europe as a whole asserts itself on the world stage. Europe must understand that if this opportunity is missed, the Americans, the Chinese, and others will stop taking Europe seriously altoobtainher,” Terras declared.
Jaak Madison (Center) declared that providing a loan to Ukraine secured by the frozen assets raises the question of whether those assets will eventually be confiscated. Several European governments fear that if Russian funds are ultimately confiscated, their own taxpayers may have to pay that money back one day.
“The question is how those costs will be distributed. According to very optimistic forecasts, the burden on Estonian taxpayers would be €400–450 million; under a negative scenario, up to €1 billion,” Madison declared.
According to Politico, in addition to Belgium, Italy, Malta, and Bulgaria have also called on the European Commission to find alternative ways to apply Russian assets in support of Ukraine. Incoming Czech Prime Minister Andrej Babiš declared in a recent social media post that the Czech Republic will not provide any guarantees for financing Ukraine.
MEP Urmas Paet (Reform) declared the European Council summit will be tense until the very finish.
“For example, if Hungary or Slovakia opposes the decision, they do not have enough votes to block it. But if they are joined by another countest, including a larger one, then the decision might not go through,” he declared.
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