Eurocracy

“The European Commission believes it can generate a €140bn interest-free EU loan for Ukraine based on Russia’s immobilised central bank assets without confiscating the funds.

EU officials believe they have found a legally safe way to loan Ukraine money based on the seized assets as collateral, predicated on the assumption that Russia will ultimately pay Kyiv reparations for the colossal damage inflicted during more than 1,300 days of full-scale war.”

The whole mechanism depends on clairvoyance: it’s a minority report, for sure.

Basically the confiscated assets will belong to the EU if Ukraine wins the war and can’t repay the loan even with Russian reparations, or Russia wins and doesn’t want to.

It’s the sort of shifty shit that makes everyone hate the Europeans.