STRASBOURG, France: The European Parliament on Tuesday voted to hand war-torn Ukraine a loan of up to $38 billion (35 billion euros) backed by profits from frozen Russian assets.
Kyiv is desperate for funds as it seeks to prop up its economy, equip its military and keep its electricity grid functioning this winter after intense bombardments by Moscow’s forces.
The European Union loan — which was approved by an overwhelming majority of lawmakers — is part of a bigger $50 billion initiative agreed by G7 powers in June.
The EU is the first of the G7 powers to announce how much it is putting forward as its share of the plan and is still waiting for the United States and others to do their part.
EU justice commissioner Didier Reynders said other G7 countries are expected to unveil their contributions at a Washington meeting on Friday.
EU officials say the size of the bloc’s loan was up to 35 billion euros, but could decrease depending on how much other countries put forward.
The EU has frozen roughly $235 billion of Russian central bank funds since the Kremlin launched its invasion of Ukraine in 2022, the vast bulk of immobilized Russian assets worldwide.
About 90 percent of the funds in the EU are held by international deposit organization Euroclear, based in Belgium.
The G7 plan seeks to leverage interest earned on the assets to get more funds to Ukraine and will replace an existing EU scheme that funneled $1.7 billion to Kyiv in July.
There has been a delay in implementing the G7 loan as the United States had sought guarantees from the EU that the Russian assets would remain frozen.
Currently, EU members have to agree every six months to extend the asset freeze.
Hungary rejected a proposal to extend that period to 36 months, arguing it wants to wait until after the US presidential election in November.
The latest EU loan comes on top of roughly 120 billion euros of support that officials say the EU and its member states have provided to Kyiv since Russia’s invasion.
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EU lawmakers approve new $38 billion loan for Ukraine
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EU lawmakers approve new $38 billion loan for Ukraine
- Kyiv is desperate for funds as it seeks to prop up its economy, equip its military and keep its electricity grid functioning this winter
- The EU loan is part of a bigger $50 billion initiative agreed by G7 powers in June
’We’ll bring him home’: Thai family’s long wait for Gaza hostage to end
NONG KHAI: Two years after Thai worker Sudthisak Rinthalak was killed by Hamas militants, his family in northeastern Thailand is preparing to welcome his remains home and hold a Buddhist ceremony they believe will bring his spirit peace.
Sudthisak was among 47 hostages whose bodies Hamas has returned under the current ceasefire agreement. The handover of deceased hostages was a key condition of the initial phase of the deal aimed at ending the war in Gaza.
Sudthisak’s elder brother Thepporn has spent the past two years fulfilling promises he made to his younger sibling, using compensation money to build a new house, buy pickup trucks for their elderly parents and expand their rubber farm.
But the 50-year-old farmer says none of it matters without Sudthisak there to see it.
“Everything is done but the person I did these things for is not here,” Thepporn said, walking through the rubber plantation in Nong Khai province near the Laos border.
Israel identified Sudthisak’s remains on Thursday after Hamas handed over his body as part of a ceasefire deal. The 44-year-old agricultural worker was captured by Hamas at an avocado farm during its October 7, 2023, attack on southern Israel and later killed at Kibbutz Be’eri.
The last image his family has of Sudthisak came from a video sent by friends that showed him lying face down with militants pointing guns at him.
“I feel sad because I couldn’t do anything to help him,” Thepporn said. “There was nothing I could do when I saw him with my own eyes. He was hiding behind a wooden frame and they were pointing the gun at him.”
For months, the family waited through multiple hostage releases, hoping Sudthisak would be among those freed alive. Each time brought disappointment.
“Whenever there was a hostage release, he was never included,” Thepporn said.
Sudthisak had gone to Israel to earn money to support his father, Thongma, 77, and mother, On, 80, who live in a farming community from which young people commonly go abroad for work.
His sister-in-law Boonma Butrasri wiped away tears as she spoke about the family’s loss.
“I don’t want war to happen. I don’t want this at all,” she said.
Before the conflict, approximately 30,000 Thai laborers worked in Israel’s agriculture sector, making them one of the largest migrant worker groups in the country.
Thepporn said his brother’s death serves as a warning to other Thai workers considering jobs abroad.
“I just want to tell the world that you’ve got to think very carefully when sending your family abroad,” he said.
“See which countries are at war or not, and think carefully.”
Sudthisak was among 47 hostages whose bodies Hamas has returned under the current ceasefire agreement. The handover of deceased hostages was a key condition of the initial phase of the deal aimed at ending the war in Gaza.
Sudthisak’s elder brother Thepporn has spent the past two years fulfilling promises he made to his younger sibling, using compensation money to build a new house, buy pickup trucks for their elderly parents and expand their rubber farm.
But the 50-year-old farmer says none of it matters without Sudthisak there to see it.
“Everything is done but the person I did these things for is not here,” Thepporn said, walking through the rubber plantation in Nong Khai province near the Laos border.
Israel identified Sudthisak’s remains on Thursday after Hamas handed over his body as part of a ceasefire deal. The 44-year-old agricultural worker was captured by Hamas at an avocado farm during its October 7, 2023, attack on southern Israel and later killed at Kibbutz Be’eri.
The last image his family has of Sudthisak came from a video sent by friends that showed him lying face down with militants pointing guns at him.
“I feel sad because I couldn’t do anything to help him,” Thepporn said. “There was nothing I could do when I saw him with my own eyes. He was hiding behind a wooden frame and they were pointing the gun at him.”
For months, the family waited through multiple hostage releases, hoping Sudthisak would be among those freed alive. Each time brought disappointment.
“Whenever there was a hostage release, he was never included,” Thepporn said.
Sudthisak had gone to Israel to earn money to support his father, Thongma, 77, and mother, On, 80, who live in a farming community from which young people commonly go abroad for work.
His sister-in-law Boonma Butrasri wiped away tears as she spoke about the family’s loss.
“I don’t want war to happen. I don’t want this at all,” she said.
Before the conflict, approximately 30,000 Thai laborers worked in Israel’s agriculture sector, making them one of the largest migrant worker groups in the country.
Thepporn said his brother’s death serves as a warning to other Thai workers considering jobs abroad.
“I just want to tell the world that you’ve got to think very carefully when sending your family abroad,” he said.
“See which countries are at war or not, and think carefully.”
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