TALLINN – Members of the European Parliament on Tuesday approved a proposal at a plenary session to create a new financing instrument for Ukraine, providing EU aid as a loan that would be repaid from reparations paid by Russia.
"The essence of this is to use frozen Russian assets as collateral for the loan," said Urmas Paet, Vice-Chair of the European Parliament's Committee on Foreign Affairs.
"This is an important message from the European Parliament to the leaders of EU member states, who must make a decision by the end of this week on using frozen Russian assets as a guarantee for aid to Ukraine," he added.
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