US EditionEU reaches $105 billion deal on Ukraine funding, won’t use frozen Russian assets for now
- On Friday, EU leaders decided to borrow cash to fund Ukraine rather than use frozen Russian assets, approving 90 billion support for 2026-27, EU summit chairman Antonio Costa announced.
- Facing urgent financing, the International Monetary Fund forecasts a $160 billion funding gap over two years, while Belgium demanded guarantees amid legal and retaliation risks tied to frozen Russian assets.
- The deal stipulates Ukraine will repay the loan only after Russia pays reparations, while the EU reserved the right to use frozen Russian assets and mandated its executive to explore that option.
- Belgium insisted Belgian Prime Minister Bart De Wever demanded binding guarantees for approval, while unanimity rules exempt Hungary, Slovakia and Czech Republic from joint borrowing guarantees.
- The move positions the European Commission's proposal to use frozen Russian assets as secondary to joint borrowing, while EU diplomats say funding is secured for two years but some see it as preserving face; Euroclear, Belgian securities depository, holds most immobilized Russian assets, complicating immediate use.
198 Articles
198 Articles
Following the summit, the EU countries agreed to provide Ukraine with a loan of 90 billion euros, secured by the bloc's own budget, without using Russian frozen assets, said Antonio Costa, President of the European Council.
EU Approves €90 Billion Loan for Ukraine Amid Asset Controversy
EU Approves €90 Billion Loan for Ukraine Amid Asset Controversy European Union leaders have secured a €90 billion loan for Ukraine to bolster its financial stability for the next two years in light of Russia's invasion. The loan will be drawn from EU funds rather than utilizing frozen Russian assets.The straightforward agreement faced pushback, especially from Belgium, due to complexity and legal hurdles. Meanwhile, Hungarian Prime Minister Vikt…
EU summit: Months of talks about using Russian money to help Ukraine came to nothing. At 3 a.m., the European…
EU green lights €90bn loan for Ukraine, without frozen Russian assets
EU leaders have agreed a €90 billion loan package for Ukraine, offering Kyiv a vital financial lifeline as it faces mounting budget pressures – but stopped short of the more contentious step of using frozen Russian state assets to raise the cash.
Kyyiv receives 90 billion euros via interest-free EU loans. Moscow's funds remain frozen. Hungary, Slovakia and the Czech Republic do not go with guarantees
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