by Joaquin Flores,Strategic Culture:
So the war-mad EU has finally approved the €90 billion loan to Ukraine after Hungary’s veto was lifted coming on the heels of a five month stall going back to at least December of 2025. One clear take away is that this is the City of London’s war. While the €90 billion sum represents a significantly lower figure than the previously pitched €140 billion which had caused a scandal back in November, (when the European Commission threatened to force member states to agree), this is still a case of good money being thrown after bad. At a certain point in the future, reality will come knocking.
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EU officialsalso confirmedthat the bloc’s 20th sanctions package on Russia has now been formally approved, ending a standoff that had held up the measure for days. The breakthrough came after oil deliveries through the Druzhba pipeline resumed, following earlier disruptions caused by Ukrainian President Zelensky turning it off in January, in a blackmail gambit to force Budapest and Bratislava to approve the €90 billion loan. The route running through Ukraine, is a key supply line for landlocked Hungary and Slovakia, both of which had been blocking the sanctions package while flows were halted. Zelensky said on Tuesday that shipments would restart, and by Wednesday officials in Budapest and Bratislava confirmed that oil was moving again.
With that issue resolved, the Cyprus Presidency of the EU moved to finalize the sanctions using a written procedure. By Thursday afternoon, the presidency confirmed completion of the process. We will recall that moves to create this mutualized debt obligation go back to 2025, where at the time there was in effect a “plan A” and a “plan B”. Merz and von der Leyenhad failed on “plan A” implementation. “Plan A” was to raid the frozen Russian assets held by Euroclear in Belgium, and “plan B” was to issue bonds involving an EU-wide (member-state backed) mutualized debt obligation; this B plan had won out, though with this smaller €90 billion. Today they talk of making payments on the debt if Ukraine cannot pay by using the interest earned on Russia’s frozen assets.
While pro-Kiev, that is, the mainstream press in the EU are celebrating this €90 billion “loan” scheme, it represents a failure of the EU Commission on numerous fronts. This €90 billion falls woefully short of Ukraine’s war and basic budgetary needs through 2027 combined, even going back to what Euros could buy back in December when this lesser sum was agreed on. But now, in light of the U.S. conflict against Iran, energy prices are spiraling so Ukraine’s older budget forecasts are now far from accurate.
Also are news reports circulating in the press thatRussia will stop Kazakh oilfrom reaching Germany through the northern Druzhba, which will leave an inflationary mark on Germany.
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Source: SGT Report
