European Commission seeks to involve G7 in reparations loans for Ukraine

The European Commission is considering involving other countries holding frozen Russian assets in providing reparations loans to Ukraine and plans to raise the issue at the G7 level.

The EU may invite G7 states to participate in the project of reparations loans for Ukraine based on frozen Russian assets.

"We are reaching out to our partners also across the world, and notably in the context of the G7 on this," Pinho said, responding to a question on whether the EU intends to bring in other countries holding frozen Russian assets.

In turn, Commission spokesperson Balazs Ujvari added that EU officials are "open to having such discussions in the context of the G7 meetings," Paula Pinho, chief spokesperson for the European Commission, said.

"Of course, what other actors do is their decision. But we are open to having these types of discussions, and certainly this will be raised in forthcoming G7 meetings," he said.

European Commission President Ursula von der Leyen said that providing Ukraine with a reparations loan based on frozen Russian assets is a sensitive issue that many EU member states remain hesitant about.

Meanwhile, Kaja Kallas, EU High Representative for Foreign Affairs and Security Policy, said the idea of a reparations loan to Ukraine using frozen Russian assets in Europe does not as such violate international law.

In response, Russia began threatening to nationalise Western companies if the EU confiscates its assets.