Europe has decided that member states would provide the backstop guarantee to Belgium so they will release Russia’s frozen assets to Ukraine.
But look at how the funds are to be used. “
Checks and balances
The proposed reparations loan earmarks €115 billion to finance Ukraine’s defense industry over five years, while €50 billion would cover Kyiv’s budgetary needs. The remaining €45 billion from the overall package would repay a G7 loan to Ukraine, issued last year.”
Kiting is a term that is a remnant of my years running computers for banks and credit unions. The way you make the kiting suspect list is if you show a pattern of cashing checks to make deposits to cover checks previously written. The same is taking place here. The new loan pays off an old (G7) loan. And that is where the hidden graft begins.
https://www.politico.eu/article/eu-capitals-frozen-assets-loan-ukraine-russia-war-finances