The European Central Bank rejects the EU plan to use frozen Russian assets to finance a 140 billion euro loan for Ukraine, citing EU treaties.

The European Central Bank (ECB) has refused to support a loan of 140 billion euros for Ukraine, which would be financed from frozen Russian assets, arguing that such an action would violate the legal treaties of the European Union. The European Commission continues to insist on this plan, which would allow Ukraine to use the funds to purchase weapons and ammunition.

The President of the Commission, Ursula von der Leyen, proposed that Ukraine repay the loan only after Russia pays 'war reparations', which effectively implies the confiscation of Russian assets. Belgium, where most of these assets are stored, opposes the plan due to concerns about financial repercussions.

Although the ECB considers the proposal impossible to implement, the European Commission is seeking alternative solutions to ensure the necessary liquidity. An official proposal will be discussed at the European leaders' summit on December 18-19.