On Wednesday 9 October, the Member States of the European Union reached agreement by a qualified majority on the mechanism designed to implement the decision by the G7 countries to grant Ukraine bilateral loans totalling $50 billion, which would be pledged against the future income generated by the Bank of Russia’s assets frozen in the EU (see EUROPE B13499A20).
This agreement covers three texts which will enable the EU: - to grant Kyiv further macrofinancial assistance of up to...