EU Pledges €90 Billion to Ukraine, Avoids Using Frozen Russian Assets

The European Union agreed to provide Ukraine with a €90 billion loan but decided against using frozen Russian assets for this. EU leaders emphasize the importance of supporting Ukraine while ensuring financial security for the union. The immobilization of Russian assets remains in place until the loan is repaid.

The European Union has committed to lending Ukraine €90 billion, with leadership agreeing not to tap into frozen Russian assets for securing the loan. This decision highlights a balanced approach to aid Ukraine without compromising the financial stability of the union.

EU President Ursula von der Leyen stressed their shared objective of achieving just and lasting peace in Ukraine. Ukrainian President Volodymyr Zelenskiy welcomed the financial support, noting the importance of keeping Russian assets immobilized until the loan is secured for the future.

German Chancellor Friedrich Merz emphasized avoiding fiscal debt while using Russian assets as long-term security. Leaders like Italian Prime Minister Giorgia Meloni and Hungarian Prime Minister Viktor Orbán voiced differing views, reflecting varied national interests and pressures. French President Emmanuel Macron and Danish Prime Minister Mette Frederiksen acknowledged the crucial nature of the decisions made, amidst growing pressure and war fatigue in Europe.

(With inputs from agencies.)