The ECR Group has strongly supported the Loan Cooperation Mechanism and Macro-Financial Assistance for Ukraine in the International Trade Committee.

The package notably leverages extraordinary profits from immobilised Russian assets. “For the first time, Russia is paying the price for its own aggression. This decisive action holds Russia accountable and shows our unwavering, unequivocal stand with Ukraine in its hour of need”, said ECR Shadow Rapporteur Rihards Kols.

He continued:

“Ukraine is not just defending its own sovereignty; it’s standing up for the values we all cherish.

“We fully support the Ukraine Loan Cooperation Mechanism and the exceptional macro-financial assistance. Not a single cent of European taxpayers’ money will be spent—we’re using profits from Russia’s sanctioned assets.”

The ECR also supported adopting the report without amendments for reasons of urgency.

The vote in committee was 31 in favour, 0 abstentions and 4 against. Parliament plans to vote on the file during the next part-session.