EU Approves €90 Billion for Ukraine
However, the money will not be taken from frozen Russian funds.
The Gaze reports on it according to Dzerkalo tyzhnia.
The European Council has approved €90 billion in financial aid for Ukraine over the next two years, according to the head of the collegial body, António Costa. Ukrainian President Volodymyr Zelensky has already expressed his gratitude for this decision.
‘The decision to provide Ukraine with €90 billion in support for 2026-27 has been approved. We made a commitment, and we delivered,’ Costa wrote on social media.
Zelenskyy thanked EU leaders for their decision to allocate the funds. He called it significant support that strengthens Ukraine's resilience.
‘It is important that Russian assets remain frozen and that Ukraine has received a financial security guarantee for the coming years. Thank you for the result and unity. Together we are protecting the future of our continent,’ the president added.
On the eve of the meeting, European Commission President Ursula von der Leyen said she would not leave the EU leaders' meeting in Brussels until a solution on financing Ukraine had been found. She stressed that if a reparations loan for Ukraine were agreed, the risks should be shared among all member states. Currently, the EU does not have a unified position on the ‘reparations loan’: some leaders support financing with Russian assets, while others advocate the idea of joint EU borrowing.
At the same time, at the summit in Brussels, EU leaders were unable to agree on the use of frozen Russian assets to finance Ukraine. The most controversial provision was the provision for Belgium to receive ‘full and unlimited solidarity and risk sharing’ from other EU countries after the launch of the financial scheme. This should reassure Brussels about the possible legal and financial consequences if Russia tries to demand the return of assets. At the same time, the final wording of this point is currently being agreed in the negotiation process.
As the Gaze reported earlier Merz Ready to Make Concessions to Belgium In Order to Reach a Decision on Russian Assets.