The EU is preparing to provide up to €40bn in new loans for Ukraine by the end of the year regardless of US participation, after a G7 plan to use frozen Russian assets to aid Kyiv faltered.
The unilateral push comes amid concern in Brussels that Hungary will prevent the bloc from delivering safeguards that the US needs for it to participate in the frozen asset scheme, according to three people involved in the talks.
The government of Viktor Orbán, the EU’s most pro-Russia leader, has sought to delay a decision on the frozen assets scheme until after the US presidential election on November 5.
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