Amid ongoing financial challenges, the EU is grappling with the complexities of securing a loan backed by frozen Russian assets. In a promising turn, Norway’s Prime Minister has indicated a willingness to assist in this endeavor.
Listen to the article
Last week, the European Union pledged to provide Ukraine with critical financial oversight for the next two years. However, the path to achieving this goal relies heavily on unlocking frozen Russian assets—a task that has proven to be far more complicated than anticipated. Currently, approximately €200 billion remains in limbo at the Euroclear financial institution in Brussels. Belgium has stipulated that other EU nations must share the associated risks, a request that could stretch the credit capacity of economically strained countries like France.
In light of these challenges, Prime Minister Jonas Gahr Støre of Norway has reported that he is actively engaging with EU representatives to explore how Norway might assist in facilitating this loan arrangement.
