EU sanctions $105bn loan for Ukraine, but fails to use frozen Russian assets
&imwidth=600&imheight=450&format=webp&quality=medium "EU sanctions $105bn loan for Ukraine, but fails to use frozen Russian assets")
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Though Zelenskyy had urged the EU to use the frozen Russian assets but Belgium, where the major bulk of the cash is held, demanded guarantees and asked countries to share liabilities.
The European Union (EU) has agreed to help Ukraine with €90bn (£79bn; $105bn) loan for its military and economic needs for the next two years in its war against Russia. However the EU failed to come to a conclusion on using the frozen Russian assets to help Ukraine. The interest-free loan came after more than a day of talks at a summit in Brussels.
While making the announcement on X, EU chief Antonio Costa wrote, “We have a deal. Decision to provide 90 billion euros [$105.5bn] of support to Ukraine for 2026-27 approved. We committed, we delivered".
The Ukrainian President Volodymyr Zelenskyy thanked the EU for the loan saying it “truly strengthens” Kyiv’s defence.
“This is significant support that truly strengthens our resilience. It is important that Russian assets remain immobilized and that Ukraine has received a financial security guarantee for the coming years,” he added.
Though Zelensky had urged the EU to use the frozen Russian assets worth €200bn but Belgium, where the major bulk of the cash is held, demanded guarantees and asked countries to share liabilities, therefore, a conclusion was not reached upon.
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The funding for the loan, therefore, is largely going to come from capital markets, secured against the EU budget, according to a draft text of the summit’s conclusions, seen by news agency Reuters.
Meanwhile, US and Russian officials are likely to meet in Miami his weekend to further discuss plans of ending the war, reported AFP. Russia's Kirill Dmitriev and Trump envoys Steve Witkoff and Jared Kushner are likely to be the main negotiators in this meet.
On the other hand Ukrainian and US delegations will hold new talks on Friday and Saturday in the United States, as said by Zelensky
