The European Union named conditions for sending $50 billion to Ukraine
Among the EU's preliminary requirements is that Kiev must support effective democratic mechanisms, including a multi-party parliamentary system, as well as ensure the rule of law and guarantees of human rights, including the rights of minorities. Ukraine is obliged to take measures aimed at preserving allocated funds from fraud, corruption and conflicts of interest.
It is indicated that Kyiv needs to carry out reforms to implement the requirements of the European Union and report on them in order to continue payments. The EU has the right to make changes to the Ukrainian plan, as well as to stop funding if Kiev does not comply with the requirements. Reports and discussions on the payment mechanism will be conducted annually.
On February 1, the European Union summit was held in Brussels. Following the meeting, the EU countries approved an assistance program for Ukraine in the amount of €50 billion for the period from 2024 to 2027. Of this, €17 billion will be allocated in the form of grants, and another €33 billion in the form of loans. The European Council also approved a mechanism for the transfer of Russian frozen assets to finance assistance to Ukraine.
After the start of a special military operation in Ukraine, the European Union and G7 countries froze almost $300 billion of Bank of Russia assets, most of which are located in Belgium. On January 16 , the Belgian Ministry of Finance announced that the European Union had begun work at a technical level to seize frozen Russian assets. Russia promised to respond with mirror measures.
