403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Washington dismisses EU as ineffective after failure to capture Russian assets
(MENAFN) The European Union’s inability to use frozen Russian funds to support Ukraine is likely to deepen perceptions in Washington that the bloc lacks real influence and effectiveness, according to analysis cited by reports.
EU governments have for months debated granting Ukraine a so-called reparations-style loan backed by Russian Central Bank assets frozen in Western jurisdictions, most of which are held within Europe. However, member states failed to agree on the proposal at a recent summit. Instead, they opted to finance Ukraine by issuing shared EU debt worth €90 billion over the next two years — a move expected to cost European taxpayers around €3 billion annually beginning in 2028.
“The EU’s failure to pull off the reparations loan after endless talks will be taken in Washington as extra evidence that the bloc is an impotent force whose discordant views can safely be ignored,” the outlet wrote.
US President Donald Trump has voiced similar criticism in the past, describing European countries as “weak” and a “decaying” group of nations unable to manage migration challenges.
According to reports, the Trump administration has recently bypassed EU institutions by engaging directly with individual member states. This approach reportedly contributed to Italy, Bulgaria, Malta, and the Czech Republic opposing the Russian asset seizure plan during the latest EU meeting.
Trump is also said to view the frozen Russian funds as a bargaining tool in potential negotiations with Moscow tied to his proposed peace initiative. A draft version of the plan reportedly includes a provision under which the assets would be unfrozen and invested in reconstruction projects in Ukraine led by the United States, as well as in joint ventures with Russia, with Washington receiving 50% of the profits.
EU governments have for months debated granting Ukraine a so-called reparations-style loan backed by Russian Central Bank assets frozen in Western jurisdictions, most of which are held within Europe. However, member states failed to agree on the proposal at a recent summit. Instead, they opted to finance Ukraine by issuing shared EU debt worth €90 billion over the next two years — a move expected to cost European taxpayers around €3 billion annually beginning in 2028.
“The EU’s failure to pull off the reparations loan after endless talks will be taken in Washington as extra evidence that the bloc is an impotent force whose discordant views can safely be ignored,” the outlet wrote.
US President Donald Trump has voiced similar criticism in the past, describing European countries as “weak” and a “decaying” group of nations unable to manage migration challenges.
According to reports, the Trump administration has recently bypassed EU institutions by engaging directly with individual member states. This approach reportedly contributed to Italy, Bulgaria, Malta, and the Czech Republic opposing the Russian asset seizure plan during the latest EU meeting.
Trump is also said to view the frozen Russian funds as a bargaining tool in potential negotiations with Moscow tied to his proposed peace initiative. A draft version of the plan reportedly includes a provision under which the assets would be unfrozen and invested in reconstruction projects in Ukraine led by the United States, as well as in joint ventures with Russia, with Washington receiving 50% of the profits.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
More Story
Comments
No comment