EU's Historic Loan Commitment: A Lifeline for Ukraine

The European Union has agreed to a groundbreaking interest-free loan for Ukraine, totaling 90 billion euros for 2026-27. The aid will support Ukraine's military and economic needs amidst Russian tensions, as EU leaders assured Belgium of protection from potential Russian retaliation to secure the deal.

In a landmark decision, the European Union's leaders approved an interest-free loan of 90 billion euros to Ukraine, intended to support the country's military and economic needs for 2026-2027. The announcement was made by EU Council President Antonio Costa.

"We have a deal. Decision to provide 90 billion euros ($106 billion) of support to Ukraine for 2026-27 approved. We committed, we delivered," Costa declared on social media, though specifics regarding the funding sources remain under wraps.

The agreement was preceded by intensive discussions, with EU leaders working late into the night to convince Belgium of safeguards against Russian retaliation if it backed the loan.

(With inputs from agencies.)