Babiš: We will not provide any guarantees for Ukraine's financing

(Patria) - The Czech Republic will not provide any guarantees for Ukraine's financing, stated the new Czech Prime Minister Andrej Babiš yesterday.

Babiš, who will take office tomorrow, says the European Commission must find alternative ways to provide support to that country.

European leaders will discuss a complex scheme for a loan to Ukraine next week, which will use frozen Russian assets, but also include national guarantees.

- We will not take on guarantees for anything, nor invest any money - Babiš said in a video posted on social media.

All EU member states, except for two, approved the decision on the permanent freezing of Russian assets on Friday through a written procedure, which is a key prerequisite for approving a reparation loan for Ukraine.

This is a key part of the European Commission's proposal to use frozen Russian assets as a basis for a reparation loan for Ukraine.