EU Commits €90 Billion Support to Ukraine Amid Frozen Assets Debate

The European Union has pledged €90 billion to support Ukraine over the next two years to help the country sustain its economy amid ongoing conflict with Russia. The aid plan excludes using frozen Russian assets due to potential risks. EU leaders reached this decision after extended discussions.

The European Union has announced a significant €90 billion support package for Ukraine, designed to bolster the war-torn nation over the next two years. The funding decision comes amid unresolved debates over using frozen Russian assets to finance the aid, an idea that was considered politically risky by EU leaders.

Russian President Vladimir Putin criticized the now-abandoned plan to leverage Russian assets, calling it "daylight robbery" and warning of severe consequences. This came as fears loom about Russia's aggression spilling closer to the EU if Ukraine falls due to financial constraints. Despite the EU missing a more ambitious financing plan, Ukraine welcomed the agreed support package.

During a summit, European leaders, including German Chancellor Friedrich Merz, backed the decision, describing it as beneficial for Ukraine. The discussion also touched on a potential free trade agreement with South America's Mercosur bloc, signaling broader EU intentions in international trade, even amid internal disagreements.

(With inputs from agencies.)