US EditionEU vows to bankroll Ukraine for next two years as it eyes Russian frozen assets
- On Thursday, the European Union will agree in principle to fund Ukraine for two years, with EU Council chief Antonio Costa saying, `We will take the political decision to ensure the financial needs of Ukraine for 2026 and 2027, including for the acquisition of military equipment.`
- Belgian Prime Minister Bart De Wever demanded EU members share legal and financial risks for a 140 billion euro loan backed by frozen Russian assets.
- The European Commission will be tasked to draft a formal legal proposal, while a senior official in Zelenskiy's administration said Kyiv needs funds by year-end with spending autonomy.
- On Thursday, European Union leaders approved a sanctions package banning Russian liquefied natural gas from January 2027 and targeting shadow tankers and two Chinese refineries, while the United States sanctioned major Russian oil firms on Wednesday.
- Russia described the plan as an illegal seizure and warned of retaliation, while an EU diplomat said many legal and political risks remain around the 'reparations loan' framing.
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132 Articles
Russian funds immobilized as a result of Western sanctions amount to approximately $341 billion (€210 billion).
ABC FOX Montana
EU takes small step towards using Russian assets for Ukraine
EU leaders Thursday tasked the European Commission to move ahead with options for funding Ukraine for two more years, leaving the door open for a mammoth loan using frozen Russian assets.
The news of Friday, October 24 on the conflict in Ukraine, live. Zelensky: "The EU provides us with financial aid for two years." Russian fighters violate Lithuanian airspace. Bilateral Meloni-Zelensky after the EU Council
Belgian Prime Minister Bart De Wever is temporarily halting plans to use Russian money to plug holes in the Ukrainian budget. However, the EU has pledged to help Kyiv financially starting in the new year.
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