STRASBOURG, France (Reuters) -The European Union should find a new way to finance Ukraine’s defence against Russia using the cash balances associated with Russian assets frozen in Europe, the head of the European Commission Ursula von der Leyen said on Wednesday.

She said the capital of the assets themselves would not be touched and the risk associated with the new financing would have to be shared collectively by EU countries.

“This is Russia’s war. And it is Russia that should pay. This is why we need to work urgently on a new solution to finance Ukraine’s war effort on the basis of the immobilised Russian assets,” von der Leyen said in a speech.

“With the cash balances associated to these Russian assets, we can provide Ukraine with a Reparations Loan. The assets themselves will not b

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