According to this plan, Ukraine will repay the loan once it receives war reparations from Russia. The loan will be backed by cash balances associated with Russian central bank assets frozen after Moscow invaded Ukraine in 2022. Currently, there are around 210 billion euros of frozen Russian assets, most of which have matured. The proposed measure will steer clear of actually using frozen assets, something many member states are wary of. The Commission will replace the Russian assets with zero-coupon bonds issued either by the EU as a whole or by interested countries.