UKRAINE is likely to get 90billion euros of seized Russian assets after the latest peace talks ended without a breakthrough.
European leaders said the reparations loan would cover two thirds of Kyiv’s financing needs for the next two years.
They are prepared to overrule a veto held by Belgium, where most of the seized cash is in banks.
The move came after Russian President Vladimir Putin rejected a US-led peace deal before a marathon five-hour summit with special envoy Steve Witkoff in Moscow.
Putin insisted that the West’s proposals were “completely unacceptable” and went on to warn: “If Europe wants to fight a war, we are ready.”
PM Sir Keir Starmer’s spokesman yesterday hit back: “This is yet more Kremlin claptrap from a president who isn’t serious about peace.”
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Moscow described talks as constructive but warned that “a lot of work lies ahead”.
An original plan delivered to Kyiv by the US caused fury by demanding Ukraine give up land not yet seized by Russia, agree not to join Nato and limit the size of its military.
Nato chief Mark Rutte said yesterday that Donald Trump was the only person able to break the deadlock.
Foreign Secretary Yvette Cooper called on Putin to “end the bluster and bloodshed”.
In a separate development, the former commander of the Russian Ground Forces, Vladimir Chirkin, publicly criticised the full-scale invasion of Ukraine.
He said: “We had the traditional underestimation of the opponent and overestimation of our own military.
“During the first few weeks, we were taught a serious harsh lesson.”