The plan which is now gaining ground in Germany would see the EU borrow around €140 billion on behalf of all EU member states, meaning each country would share the risk based on GDP.

The sum would then be made available to Ukraine while the war is ongoing.

"It's my understanding is that the proposal is something to the effect that instead of giving a blank cheque to Ukraine you frame it as war compensation," Finland's President Alexander Stubb told journalists in Helsinki.

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"Which basically means that you give the money out as an interest free loan to Ukraine," he said.

"And if or when Russia never pays war reparations then that money is basically given to Ukraine."

[Firefighters put out the fire following a Russian drones att

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