Malta is a signatory to a statement released by Belgium, Italy and Bulgaria declaring opposition to the European Commission’s proposal to fast-track a law to issue a reparations-loan to Ukraine backed with Russian assets as collateral. Belgium has been opposing this proposal fearing Russian repercussions. Malta did not oppose the latest action of indefinitely freezing Russian assets.
The Maltese Herald contacted local diplomatic sources and confirmed that Malta is opposing in principle to avoid the use of qualified-majority voting at the European Council. We confirm that Malta is using the issue of the reparations loan over a point of principle.
This is very reckless because the case of the reparations loan is currently a top priority in the European agenda due to Ukraine’s emergency budget shortfall. Ukraine lacks funds to run its infrastructure as Russia bombs its infrastructure and cities on a daily basis resulting in constant and extensive power blackouts for Ukrainian citizens. Failing to provide Ukraine with the required funds for its budget will also compromise its current gains in the battlefield.
There may be hidden interests in Malta’s opposition to the reparations-loan that may not have been declared, however Malta has always been consistently supportive of the EU’s positions on Ukraine, while refraining from contributing military aid.
Diplomatic sources in Brussels continue to inform The Maltese Herald that the deal for the reparations-loan to Ukraine is highly likely with legal concerns to be addressed by the EU Commission, including by introducing collective liability to the scheme.
You can read the full statement by the quartet below.
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