‘We Stand Behind Ukraine’: EP Leaders Warn Russia As Metsola-Led Parliament Approves €1.2 Billion Loans
European Parliament’s leaders have condemned the escalation of Russian military presence at the Ukraine border amid concerns of a potential invasion.
“Ukraine faces the threat of an unprecedented military aggression by the Russian Federation. This is not only a threat to the security of Ukraine and the safety of its people,” the Conference of Presidents said.
“It is also a threat to Ukraine’s prosperous democratic and economic development, to the rules-based international order, and to the security of Europe as a whole.”
The conference, which includes Parliament President Roberta Metsola and the leaders of the political groups, reiterated the fact that the use of force by any part goes directly against the UN’s Charter and the fundamental principles of international law.
They demanded that Russia cease all military threats and any attempts made to destabilise the situation, by the complete withdrawal of military forces and equipment at the Ukrainian border.
They also expressed and emphasised their support for Ukraine’s “independence, sovereignty and territorial integrity”, and stated that they stand by diplomatic efforts made by European leaders to defuse tensions.
“We are equally determined in our support for a robust response should Russia continue not to abide by its international commitments and obligations and launch an attack against Ukraine,” they said.
This would see severe economic and financial sanctions against Russia; including the freezing of financial and physical assets in the EU, travel bans and individual sanctions of the families’ of individuals close to Putin.
European Parliament approves €1.2 billion loan
Due to the Russian military threat and the COVID-19 pandemic, Ukraine’s economy and financial situation is worsening. This is why the Parliament also approved a loan to Ukraine of €1.2 billion, which was proposed by the European Commission.
This loan is aimed at covering Ukraine’s external financing needs for 2022, as well as strengthening the resilience of the country.
These types of loans are types of macro-financial assistance aimed at supplying emergency resources for the EU’s neighbouring countries who are having difficulty paying bills and are typically paid out in two instalments.
The first instalment of the loan will be given to Ukraine immediately, given that they meet certain conditions. These conditions include signs of progress that the country is implementing the International Monetary Fund-set up macroeconomic programme.
MEPs stressed that effective democratic mechanisms, rule of law, guaranteed respect for human rights and a multi-party parliamentary system are also conditions for the loan to be given to them.
The Parliament leaders expressed their solidarity with the people of Ukraine and the thousands who have already lost their lives as a result of the tragic conflict caused by Russia.
This article is part of a content series called Ewropej. This is a multi-newsroom initiative part-funded by the European Parliament to bring the work of the EP closer to the citizens of Malta and keep them informed about matters that affect their daily lives. This article reflects only the author’s view. The European Parliament is not responsible for any use that may be made of the information it contains.
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