Politico: Italy opposes sending seized Russian assets to Ukraine

According to RCO News Agency, the intervention of Italy, the third largest country in the European Union in terms of population and voting power, undermines the European Commission’s hopes of finalizing an agreement on the plan to use frozen Russian assets, less than a week before the important meeting of EU leaders in Brussels.

“Paltico” magazine wrote in a report: “The European Commission is trying to get EU member states to reach an agreement at the European Council meeting on December 18 and 19 (December 27 and 28) to release billions of euros of Russian reserves kept in Euroclear Bank in Belgium to support the war-torn economy of Kyiv.”

The American media stressed: “The Belgian government is reluctant to fully repay the money if Russia recovers it, but it has so far lacked a powerful ally before the December summit.”

“Italy has now shaken the diplomatic dynamic by preparing a document with Belgium, Malta and Bulgaria that asks the European Commission to explore alternatives to using Russian assets to protect Ukraine in the coming years,” Politico added, quoting informed sources.

“We invite the European Commission and the European Council to continue to explore and discuss alternative options in accordance with EU and international law, with predictable factors, with much lower risks, to address Ukraine’s financial needs, based on EU loan facilities or intermediary solutions,” the four states said.

The four countries point to an “alternative plan” to issue joint EU debt to finance Ukraine over the coming years.

However, this idea has its own problems. Critics argued: “This plan will add to the high debt burden of Italy and France and requires unanimity; That means it could be vetoed by Viktor Orbán, the pro-Russian prime minister of Hungary.”

“These four countries will not be able to form a deterrent minority even if Hungary and Slovakia join them as Russia’s backers, but their public criticism will destroy the European Commission’s hopes of reaching a political agreement next week,” Politico stressed.

While Italian Prime Minister Giorgia Meloni has always supported sanctions against Russia, the government coalition she leads is divided over support for Ukraine.

Italy’s right-wing deputy prime minister, Matteo Salvini, has adopted a friendly position with Russia and supported US President Donald Trump’s plan to end the war in Ukraine.

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