Brussels is urgently pressing the G7 for $45 billion for Ukraine — Euractiv
Brussels has stepped up diplomatic pressure on the United States, Japan, and the United Kingdom, demanding that they immediately complete payments under the ERA loan program.
This was reported by Euractiv.
European officials are pushing for the G7 countries to fulfill their financial commitments as early as this week.
EU Commissioner for Economic Affairs Valdis Dombrovskis has arrived in Washington for the spring meetings of the IMF and the World Bank to personally resolve this issue.
His main mission is to convince partners to speed up the transfer of funds secured by proceeds from frozen Russian assets.
Dombrovskis’ schedule includes critical negotiations with key global financial leaders.
Specifically, a meeting is scheduled for April 15 to discuss the details of the tranches, and on April 16, he will hold talks with Ukrainian Finance Minister Serhiy Marchenko.
The U.S. President and his administration are currently working out the payment mechanisms, as Washington has not yet provided its share of funding.
In addition to the United States, Japan and the United Kingdom still owe money under this scheme, while the European Union has already transferred 18.1 billion euros.
“The EU has already transferred its share, but about 7 billion euros of the total ERA loan amount has not yet been paid by other partners,” sources in Brussels note.
The total amount of this emergency aid program is 45 billion euros.
In parallel with this process, the issue of another, larger loan of 90 billion euros from the EU itself remains unresolved.
This package has long been blocked by Hungary due to disputes over energy infrastructure.
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