00:00Most EU member states want to keep Russia's state assets frozen for an indefinite period.
00:06The European Commission now wants to borrow against some of the money, totalling around
00:11210 billion euros, to fund reparation loans to Ukraine.
00:16The reparation loan is not the major and the best, but the only option how we can mobilise
00:23finances for Ukraine's need, and we know how many billions they need for defence efforts
00:30and also for macro-financial stability.
00:34According to the proposal, Ukraine would receive 90 billion euros over the next two years.
00:39Kyiv would only have to repay it if Russia eventually covers an equivalent amount in reparations for
00:45war damages.
00:46The reparations loan we can do with the QMV, reparations loan is based on the
00:53Russian frozen assets.
00:55That means it doesn't come from our taxpayers' money, which is also important, and it also
01:00sends a clear signal that if you do all this damage to another country, you have to pay
01:07for the reparations.
01:09However, the Belgian prime minister is now demanding binding guarantees from the member states to
01:14cover the risks.
01:16This is because a large proportion of the confiscated assets are managed by the Belgian financial
01:22services provider Euroclear.
01:24The Russian central bank filed a claim for damages against Euroclear last week.
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