European Central Bank Rejects Loan Support for Ukraine

The Financial Times reported Tuesday that the European Central Bank (ECB) has refused to back a €140 billion ($162.53 billion) payment to Ukraine, undermining the European Union’s plan to provide a “compensation loan” secured by frozen Russian assets.اضافة اعلان

According to several officials cited by the newspaper, the ECB concluded that the European Commission’s proposal exceeds its mandate, complicating Brussels’ efforts to raise the loan using frozen Russian central bank assets held at Euroclear, the Belgian securities depository.

Reuters has not yet been able to verify the report.