BRUSSELS: European Union leaders are gathering Thursday for a summit aimed at agreeing on a massive loan to cover Ukraine’s military and other financial needs for the next two years.
The leaders will also discuss migration, the bloc’s enlargement policy, trade and economies, but working out how to fund most of the 137 billion euros ($160 billion) the International Monetary Fund says war-ravaged Ukraine needs is top priority.
“It is up to us to choose how we fund Ukraine’s fight. We know the urgency. It is acute. We all feel it. We all see it,” European Commission President Ursula von der Leyen told EU lawmakers on the eve of the summit.
European Council President António Costa, who is chairing Thursday’s meeting in Brussels, has vowed to keep leaders negotiating until an agreement is reached, even if it takes days.
Many leaders will press for tens of billions of euros in frozen Russian assets held in Europe to be used to meet Ukraine’s economic and military needs.
Such a decision has never been made before, and it comes with risks. The European Central Bank has warned that if Europeans appear willing to grab other countries’ money, it could undermine confidence in the euro. Some member nations are also concerned about inviting retaliation from Russia.
Belgium, where most of the frozen assets are held at a financial clearing house, is the main opponent of the plan. It fears that Russia will strike back and would prefer that the bloc borrow the money on international markets.
Last week, the Russian Central Bank sued the Belgian clearing house Euroclear in a Moscow court, raising pressure on Belgium and its European partners ahead of the summit.
Hungary and Slovakia oppose von der Leyen’s plan for a “reparations loan.” Some 90 billion euros ($105 billion) would be lent to Ukraine until Russia ends its war and pays for the damage it has caused over almost four years. Ukrainian President Volodymyr Zelensky says that totals more than 600 billion euros ($700 billion).
The UK, Canada and Norway would fill the gap beyond the 90 billion euros ($105 billion).
Bulgaria, Italy and Malta also remain to be convinced. In recent weeks, EU envoys have worked to flesh out the details and narrow differences among the 27 member countries. If enough countries object, the plan could be blocked. There is no majority support for a plan B of raising the funds on international markets.
EU leaders gather to discuss a massive loan to Ukraine
https://arab.news/z9jhq
EU leaders gather to discuss a massive loan to Ukraine
- European Council President António Costa has vowed to keep leaders negotiating until an agreement is reached, even if it takes days
Iranian drones hit Azerbaijan airport
- Azerbaijan on Thursday summoned the Iranian envoy after two people were wounded in drone hits on an airport and near a school
DUBAI: Azerbaijan on Thursday summoned the Iranian envoy after two people were wounded in drone hits on an airport and near a school.
The attacks around midday involved at least two drones that crossed from Iran into Azerbaijan’s exclave of Nakhichevan, which borders Iran and is separated from mainland Azerbaijan by Armenia, said a foreign ministry statement.
“One drone fell on the terminal building of Nakhichevan Airport, while another drone fell near a school building in the village of Shekerabad,” the ministry said, damaging the airport and wounding two civilians.
The ministry said it had summoned Iranian envoy in Baku to express “strong protest” over the attack, which “contradicts the norms and principles of international law and contributes to rising tensions in the region.
“Azerbaijan reserves the right to take appropriate retaliatory measures,” it added.
Iran has long expressed concern that Israel — a close ally of Azerbaijan and a key arms supplier — could use Azerbaijani territory to stage attacks.
Last June, Azerbaijan reassured Iran that it would not allow its territory to be used for attacks against Tehran after Israel launched a large-scale strike on Iranian targets.
Tehran has historically been wary of separatist sentiment among its ethnic Azerbaijani minority, which makes up around 10 million of Iran’s 83 million citizens.
Azerbaijan’s foreign ministry lodged an official protest with the Iranian embassy on Thursday after a pair of Iranian drones flew across the border into Azerbaijan and injured two people at an airport in the Nakhchivan exclave.
“This attack on the territory of Azerbaijan contradicts the norms and principles of international law and contributes to increased tensions in the region,” the foreign ministry said in a statement.
“We demand that the Islamic Republic of Iran clarify the matter in the shortest possible time, provide an explanation and take the necessary urgent measures to prevent such incidents from recurring in the future.”
The Iranian ambassador to Azerbaijan has been summoned to the foreign ministry to receive a formal note of protest, Baku said.
The statement said Azerbaijan reserved the right to carry out “appropriate response measures” against Tehran.
Azerbaijan’s ministry said one drone fell on the terminal building of the Nakhchivan International Airport, which is approximately 10 km (6 miles) across the border from Iran, and another drone landed close to a school building in a nearby village.
A source close to the Azerbaijani government told Reuters a fire had started as a result of the incident.
Video footage shared by the source showed black smoke rising near the airport and damage to the skylight inside the terminal building.
