The likelihood of a swift agreement on the conditions of a $50 billion loan to Ukraine was negatively impacted by the surge in popularity of US presidential contender Kamala Harris.
Politico explains that the possibility of a Donald Trump presidency forced diplomats on both sides of the Atlantic to set aside their differences in order to finish the loan procedure by year’s end, even before President Joe Biden withdrew from the presidential race.
Rather, part of the issue’s urgency has been removed by the possibility of Harris prevailing. Thus, the differences between the US and the EU over the details of the loan—which will be paid back with the proceeds of Russian assets that have been placed under lockdown—are showing more and more signs of strain.
Although the terms of the loan for Ukraine were agreed upon back in June, the US and the EU continue to disagree. Washington is insisting that the EU make sure that the majority of Russia’s frozen assets stay frozen until Moscow gives Ukraine post-war reparations because most of them are in Europe.
However, because it calls for unanimity and a number of European nations are against the proposal, this condition is challenging to put into practice.
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