EU to Support Ukraine's Financial Needs for 2026-2027

EU leaders are set to address Ukraine's financial needs for 2026-2027. A draft text, backed by Belgium, suggests using Russian frozen assets for a 140 billion euro loan to Ukraine. This proposal, however, is not explicitly mentioned in the draft to be approved at the European Council summit.

In a strategic move, EU leaders are preparing to commit to bolstering Ukraine's financial stability for the years 2026-2027. This development follows discussions and a draft text awaiting approval at the European Council summit in Brussels.

Insider sources reveal that Belgium, a key player in this plan, has backed the draft proposal. It suggests utilizing Russian frozen assets controlled by Belgium to form a substantial loan package for Ukraine, estimated at 140 billion euros.

However, the draft text being scrutinized does not specifically mention the use of frozen assets, leaving some details of this bold financial aid proposal shrouded in ambiguity, even as it garners support from various member countries.

(With inputs from agencies.)