Czech Republic Rejects Loan Guarantees for Ukraine Amid EU Talks

The Czech Republic, under incoming Prime Minister Andrej Babis, will not provide guarantees for Ukraine's financing. The European Commission seeks alternative support methods, and EU leaders will discuss a complex loan scheme, involving frozen Russian assets and national guarantees, next week.

The Czech Republic, under the leadership of incoming Prime Minister Andrej Babis, has announced it will not assume any guarantees for financing Ukraine. Babis, who will assume office on Monday, emphasized this stance on Saturday, urging the European Commission to explore alternative support mechanisms.

Next week, EU leaders are set to discuss a complicated loan framework for Ukraine. This plan involves utilizing frozen Russian assets and potentially requires national guarantees, highlighting the challenging dynamics of inter-country financial responsibilities within the EU.

Babis firmly stated in a video shared on social media that the Czech Republic would neither offer guarantees nor invest money into this initiative. This stance underscores the broader complexities faced by EU nations in formulating cohesive financial support strategies for Ukraine.

(With inputs from agencies.)