Luxembourg – Slovenia, represented by Finance Minister Klemen Boštjančič, aligns with most EU member states in endorsing the use of frozen Russian assets to fund further assistance for Ukraine. However, Boštjančič noted the need to tackle a “series of complex legal questions” prior to any action, during the EU finance ministers’ meeting in Luxembourg.
“We support the utilization of these funds, yet we must consider the legal implications,” he stated. He emphasized that there are intricate legal matters that need resolution before moving forward with the proposed loan to Ukraine, which aims to utilize frozen Russian assets as financing.
Brussels sources indicate that member states will need to provide guarantees for the loan, with Boštjančič pointing out concerns regarding how these guarantees would impact national budgets. Slovenia, along withother member states, opposes treating these guarantees as additional borrowing.
European Commissioner for Economy Valdis Dombrovskis remarked post-meeting that the guarantees for the loan may not necessarily contribute to the public finance deficit or state debt, provided the Russian assets remain frozen until reparations are paid to Ukraine. He noted, however, that clarification from the European statistical office Eurostat is essential in this matter.
The finance ministers of the EU discussed the new loan for Ukraine following discussions by heads of state at an informal gathering in Copenhagen last week. Danish Prime Minister Mette Frederiksen expressed optimism that a consensus would be reached among all 27 member nations.
Heads of government will revisit this issue at the upcoming regular October meeting of the European Council in Brussels in two weeks (October 10).
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