EU Approves €90bn Loan for Ukraine Without Using Russian Assets
European Union leaders have agreed to provide €90bn (£79bn; $105bn) in loans to Ukraine over the next two years. They reached the decision late at night after failing to secure agreement on using frozen Russian assets to fund the support.
Urgent Funding Need Addressed
Ukraine faced the risk of running out of funds by next spring. In response, EU leaders moved quickly to finalize the loan package to stabilize Ukraine’s finances and sustain essential government operations.
European Council President António Costa said the loan would be repaid only after Russia pays reparations for its full-scale invasion. “We committed, we delivered,” Costa said, stressing the EU’s continued backing for Ukraine.
Ukrainian Leaders Welcome the Decision
Ukrainian Prime Minister Yuliya Svyrydenko welcomed the agreement, calling it “a decisive step for economic resilience.” She said the funding would help Ukraine maintain stability during the ongoing conflict.
Meanwhile, EU officials emphasized that the loan demonstrates long-term political and financial support for Kyiv.
Disagreement Over Russian Assets
EU leaders also debated using €210bn in Russian funds frozen within the bloc, most of which sit in Belgium. However, the proposal failed after leaders could not assure Belgium’s prime minister that his country would be protected from potential Russian retaliation.
As a result, the EU opted to proceed with the loan package without tapping the frozen assets.
Continued Support Despite Limits
Although divisions remain over how to handle Russian assets, EU leaders said the agreement sends a strong signal of unity. They added that discussions on alternative funding methods may continue in the future.
For now, the €90bn loan ensures Ukraine receives critical financial support while broader debates remain unresolved.
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