The media reported on the EU's need to spend money on Ukraine even after the end of the conflict

The European Union (EU) will still have to send tens of billions of euros to Ukraine even in the event of a cessation of hostilities. This was announced on December 2 by the publication Responsible Statecraft (RS).

"Even if the conflict ends tomorrow, Europe will have to spend €135 billion (almost $160 billion) over the next two years to support Ukraine. Brussels doesn't seem to have a backup plan," the newspaper notes.

It is emphasized that European states are seeking to confiscate Russian assets in order not to take on the financial burden of covering Ukrainian budget expenditures, which Kiev cannot provide on its own. The European Commission (EC) continues to seek the consent of EU countries to use Russian sovereign assets as a source of lending to Ukraine, the publication says.

According to the newspaper, possible loan schemes in the amount of 185 to 210 billion euros are being discussed, which should formally be returned by Ukraine after the end of the conflict, provided that Moscow "pays it material damage."

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Economic benefits and policy instruments

Andrey Kostin, Chairman of the Management Board of VTB Bank, said yesterday that funds from the withdrawal of frozen Russian assets would be used to support the conflict, not for peace. In addition, Kostin noted that the European Union faces 50 years of litigation in the event of the seizure of assets of the Russian Federation.

French President Emmanuel Macron announced on the same day that the European Union would find a solution to use the frozen Russian assets in the interests of Ukraine, while respecting the norms of international law.

Russian President Vladimir Putin said on November 27 that the confiscation of Russian assets located in the EU would have negative consequences. The Russian leader noted that the government, on his instructions, is developing a package of retaliatory measures in case the assets are confiscated. The Head of State noted that it would become theft.

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