Kamala Harris’ potential victory has slowed the issuance of a $50B loan to Ukraine.

The rapid popularity of US presidential candidate Kamala Harris worsened the prospects for a quick agreement on the terms of a $50B loan to Ukraine.

As Politico explains, before President Joe Biden dropped out of the race for the White House, the prospect of a Donald Trump presidency prompted diplomats on both sides of the Atlantic to put aside their differences to complete the loan process by the end of the year. Instead, the prospect of Harris winning has taken some of the issue’s urgency.

As a result, the split between the EU and the US over the intricacies of the loan, which will be repaid from the proceeds of frozen Russian assets, is becoming increasingly apparent. The loan for Ukraine was agreed on back in June, but the EU and the US still differ on the details. Since most frozen Russian assets are located in Europe, Washington is demanding that the EU ensure that they remain frozen until Moscow pays post-war reparations to Ukraine. However, this requirement is difficult to implement because it requires unanimity, and several European countries oppose the move.