The European Union has approved a plan that is unprecedented in the world. It involves a 35 billion euro ($37.2 billion), loan to Ukraine to help rebuild its war-torned economy. This loan will be secured by assets of Russia’s Central Bank, which are currently immobilized.
The deal is part a larger G7 initiative that aims to provide EUR45 billion ($50billion) in aid to Kyiv. Kyiv is struggling to counter a new Russian offensive which has severely damaged its electrical infrastructure.
According to the G7 plan the profits from Russia’s assets that have been frozen will be used gradually to repay the multibillion-euro loans. EU officials have said that the 35 billion euro loan will be undesignated and untargeted, allowing Ukraine to spend the funds in any way it chooses. The EU plans to distribute the money as early as next year.
The agreement reached by EU ambassadors on Oct. 9, follows Hungary’s announcement on Oct. 8 that it would delay a major reform of sanctions until after the U.S. Presidential election on Nov. 5,
The proposed amendment will increase the period of renewal for sanctions on Russia’s frozen assets, valued at approximately EUR210 billion in the EU. This period will be extended from six months to three years. Changes to the sanctions laws must be approved unanimously, unlike changes to the loan which were approved by a qualified majority.
“We believe this issue – the extension of the Russian sanctions should be decided after the US elections. This was the Hungarian view,” Hungary’s Finance Minister Mihaly Varga told Euronews on Oct. 8, following a ministerial gathering in Luxembourg.
The longer period of renewal is intended to make the project predictable and to address concerns raised by G7 Allies, especially the U.S. which fears that one EU member could block sanction, unfreeze assets and disrupt the whole plan. These fears are mainly directed towards Hungary, which is known for blocking sanctions as a trade-off for controversial concessions.
According to the G7 plan the profits generated from the frozen assets will gradually be used to repay the money that Ukraine was loaned. If these profits can no longer be accessed, the West is responsible for covering costs.
The Ukrainian General Staff stated that the destruction of the Shahed drones base would significantly reduce the ability for the Russian occupiers terrorize civilians living in Ukrainian cities and villages.
“I will meet separately with the leaders of Britain and France in each country. “I will be quick and then present the victory plan to our partners at Ramstein,” said President Volodymyr Zelensky.
The MiG-31K is the first to land in over a year. The Belaruski Hajun group reported that three Russian MiG-31Ks had left the country in April 2023 and haven’t been seen since.
“In October, December and November we have the chance to make a real difference in moving things towards peace and stability.” Volodymyr Zelensky, President of Ukraine, said that the situation on the battlefield provides an opportunity to take decisive action and end the war by 2025.
“France is a pioneer in training a fully-fledged Ukrainian Brigade on its soil.” This initiative is unprecedented in terms of both the number of soldiers trained and the duration of training,” said the French Embassy in Kyiv.
In a press release, the Ramstein Air Base stated that “announcements regarding future Ukraine Defense Contact Group Meetings will be forthcoming.”
The State Property Fund of Ukraine announced on October 9th that it had sold UMCC-Titanium, a state-owned company, to Cemin Ukraine for Hr 3.94 bn hryvnia (96 million dollars).
Lithuania’s Defense Minister Laurynas stated that other bridges leading to Kaliningrad will also be fortified and some may even mined.
Berlin, initially a reluctant partner, has become Ukraine’s largest military donor after the U.S.
Viktor Orban: “I would have loved to debate the Presidential Program but I see that you are not interested.”
Ukraine’s independent press has made great strides since 2014’s EuroMaidan Revolution, but there are concerns since Russia’s full scale invasion.
The talks will be centered around achieving peace, Ukraine’s path to NATO, the EU and reconstruction of Ukraine. President Volodymyr Zelensky said on October 9.
Finland joined NATO in early 2023, after abandoning its long-standing neutral position following Russia’s full scale invasion of Ukraine.
The General Staff of Ukraine said that the depot is the 67th Arsenal of Russia’s Main Missile and Artillery Directorate GRAU, located near the city of Karachev.
On Oct. 8, Viktor Orban, Hungary’s Prime Minster, said: “We will open several champagne bottles if Trump returns.”
This includes 1,150 casualties that Russian forces have suffered in the last day.
The State Security Service of Ukraine (SBU) announced on October 8 that a Ukrainian court had sentenced in absentia, two members of “Armageddon“, backed by the Russian Security Service (FSB), for carrying out more than 5,000 hacking attacks against Ukrainian institutions and critical Infrastructure.
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