The US is reportedly supportive of the EU’s “reparations loan” drive to tap into frozen Russian assets to aid Ukraine.
The loan would swap Moscow’s frozen assets in Europe for EU bonds of equal value, and Ukraine would not repay it until it receives compensation from Russia for the damage caused by the war.
Reuters, citing an unnamed “US source familiar with the situation,” said the plan received Washington’s blessing.
The US “absolutely supports (the EU) and the steps they’re taking right now to be in a position to make use of those assets as a tool,” the person reportedly told Reuters.
If confirmed, the blessing could help unlock a breakthrough with Belgium, which holds most of Moscow’s frozen assets and has opposed the plan, citing fears of legal and financial retaliation by Moscow.
Top officials from the EU Commission and the Belgian government are said to be convening on Friday in another attempt to break the deadlock.
Belgium has also reported a series of unidentified drone sightings in recent weeks, prompting the military to order some of them shot down near a base. Berlin suggested the drones could be a warning from Moscow aimed at pressuring Belgium, though the Kremlin has denied any involvement.
The blessing could also signal a shift in the US administration’s stance as it plans to ramp up pressure on Moscow toward good-faith negotiations, with US President Donald Trump recently imposing new sanctions on Russian oil for the first time since returning to office, following faltering talks with the Kremlin leader.
As of mid-October, Trump reportedly opposed the EU’s reparations loan, according to Bloomberg’s unnamed sources.
But speaking to journalists earlier this week, Trump said he is not involved in the discussions.
“Europe and Russia are having discussions, I’m not involved in those discussions,” Trump said, according to Interfax Ukraine.