EU Offers €90bn Ukraine Loan, Still Protecting Russian Assets
The EU has decided to loan Ukraine €90 billion, with the BBC highlighting the loan's novel 'repayable only when Russia pays reparations' clause. A generous offer, perhaps, but one notably devoid of the seized Russian state assets that could unilaterally fund Kyiv. One might wonder why Europe's commitment to Ukraine's defense doesn't extend to actually seizing wealth responsible for the
destruction. (Convenience, perhaps, given the precedent that might set for others.) This reluctance to touch the estimated €260 billion in frozen Russian assets, a significant portion held at Euroclear, isn't about 'legality,' as frequently argued by financial institutions. It's about protecting the sanctity of Western financial infrastructure for future capital flows—a far more pressing concern
for the global elite than Ukraine’s sovereignty. The choice appears less about justice and more about ensuring that future despots and kleptocrats still trust European banks with their ill-gotten gains. (One hand washes the other, as they say.)