Politico: Ukraine's lifeline at risk as EU delays key legislation

Time is running out for Ukraine as it faces a pressing financial crisis exacerbated by the European Union's delay in implementing crucial legislation.

Two months after a pledge to create a legal framework to allow Ukraine to benefit from interest earned on frozen Russian assets, the EU has yet to take the necessary steps to make this promise a reality, Caliber.Az informs, citing Politico.

During the June Summit in Apulia, Italy, G7 leaders, including European Commission President Ursula von der Leyen, committed to providing Ukraine with approximately $50 billion.

This support was to be financed by leveraging the extraordinary revenues from immobilized Russian sovereign assets. The plan was to make this funding available by the end of the year, but the EU's inaction has put this crucial lifeline at risk.

The EU was supposed to adopt a law that would extend the freezing of Russian assets until Moscow has fully compensated for its war against Ukraine.

However, key EU leaders, including German Chancellor Olaf Scholz, French President Emmanuel Macron, and von der Leyen, have not pushed for the necessary legislation to be enacted.

On September 4, the EU's next Council meeting is scheduled for tomorrow, and there is no room for further delay. Immediate action is required to ensure that the promised financial support reaches Ukraine without jeopardizing its stability and recovery efforts.