Poland's Deputy Finance Minister Paweł Karbownik said that the European Union is ready to take over the US share of the $50bn loan to Ukraine agreed by the Group of 7 countries. This was reported by Politico.
Yesterday, during a speech at an event marking the upcoming start of Poland's EU presidency, Karbowski said that ‘there is a risk that Donald Trump will pull out of the $50bn deal’. The statement came as House Speaker Mike Johnson refused to include a request from the US President Joe Biden's administration in the budget bill to provide Ukraine with another $24bn.
‘We have a newly elected president and we're going to wait and get guidance from the new commander-in-chief on this, so I don't expect any funding for Ukraine right now,’ he said.
The 50bn in question is a loan that is expected to be repaid with the proceeds of Russia's frozen assets. The G7 agreed on this loan in October. The United States and the European Union intended to provide 20 billion each, and the rest was to be provided by the United Kingdom, Canada and Japan. German Chancellor Olaf Scholz said the funds were to be used to buy weapons.
Karbownik urged Trump to make a decision as soon as possible so that the EU could develop an action plan.
If the worst-case scenario happens, Karbownik added, ‘we, as the EU, will ensure that the $50 billion goes to Ukraine regardless of Trump.’ Earlier, European Commission President Ursula von der Leyen made it clear that the bloc would be able to provide €35 million in the event of a US refusal.