Brussels: EU High Representative for Foreign Affairs and Security Policy Kaja Kallas said on Monday that the European Union is facing a "make-or-break week" to take "very important" decisions on financing Ukraine, warning that settling for Ukraine's Donbas region would not be the "endgame" for Russian President Vladimir Putin.
According to Kuwait News Agency, Kallas, speaking to journalists ahead of a meeting of EU foreign ministers at the bloc's headquarters in Brussels, emphasized that "Donbas is not Putin's final goal," and if he gains control there, "he will demand more." She highlighted the urgency of deciding on financing Ukraine within the week, stating, "The decisions that we have to make to support Ukraine are very important." The EU foreign policy chief also mentioned that the European Union would be making decisions about vessels from the "shadow fleet," noting that "40 additional vessels have been listed" in an effort to "deprive Russia of the means to fund this war."
Kallas also announced that the EU has met its target to supply Ukraine with two million rounds of ammunition, which is "necessary for Ukraine to be able to defend itself." Regarding efforts to reach an agreement on financing Ukraine through frozen Russian assets, she remarked, "We are not there yet, and it is increasingly difficult, but we are doing the work and we still have some days," adding, "We will not leave the meeting before we get a result." EU leaders from the 27 member states are set to meet in Brussels on Thursday to attempt to agree on a plan to finance Kyiv for the upcoming years.
Belgium, which holds the majority of the Russian central bank's frozen assets in the EU via Euroclear, has opposed using the funds for a 90 billion euro reparations loan to Ukraine. The Belgian government is concerned about potential severe legal and financial repercussions from Russia if the plan proceeds and is seeking solid guarantees to ensure risk-sharing among EU member states. Furthermore, Russia's central bank announced last week that it had filed a lawsuit against Euroclear.