2025-12-04
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But not every nation's pleased.
We consider the option of the reparations loan the worst of all.
It is risky and has never been done before.
This is World Business Report from the BBC World Service.
I'm Ed Butler and today we're going to be examining the EU plan to use Russian frozen assets to secure billions in loans for Ukraine's economic survival.
Will the plan work?
Is it legal?
Also, another brewing conflict between the US and Venezuela perhaps?
We examine the claim that this one's about oil.
So, it is the dawn of a new era.
That's according to the European Commission President Ursula von der Leyen.
She is referring to the deals that she's unveiled in the last few hours,
the first of which is to phase out EU imports of Russian gas by 2027.
It's meant to cut Russian revenues that fund the war against Ukraine.
At the same time,
she's also unveiling a plan to use frozen Russian assets to secure a loan of more than $100 billion to help finance Ukraine's military and domestic needs.
Today we are proposing to cover two-thirds of Ukraine's financing needs for the next two years.
So this is 90 billion euros.