A deal struck in Brussels to finance Ukraine without directly using frozen Russian assets represents a loss of credibility for the European Union, former top German diplomat Wolfgang Ischinger said on Friday, reported dpa.
The agreement, reached in the early hours of Friday morning, gives Ukraine what it urgently needs, so the EU achieved its goal but at a "considerable price," he told Deutschlandfunk radio.
"Namely, the price of credibility, determination and the European Union's ability to act as a credible, internationally respected player. That has fallen by the wayside a little here," said Ischinger, who for years led the Munich Security Conference.
He stepped down in 2022 but is currently acting as chairman of the conference again until the role is taken up by Jens Stoltenberg, who is currently Norway's finance minister.
"We continue to give the impression that we are driven and then looking for alternative solutions," Ischinger said.
After months of wrangling, EU countries agreed on a compromise to finance Ukraine for the next two years.
Under the deal, Ukraine will receive an interest-free loan of €90 billion. If Russia does not pay compensation for war damage, frozen Russian assets in the EU are to be used to repay the loan.
Ukraine has been under attack from Russia since February 2022.
- Ex top German diplomat
- criticizes EU loan
- Ukraine
Source: www.dailyfinland.fi
