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

The European Union has decided to loan €90 billion to Ukraine, aiming to bolster its defense against Russia. Opting against using frozen Russian assets, the EU seeks to provide financial aid over the next two years. British finance minister Rachel Reeves supports the decision.

In a strategic move to support Ukraine's defense against Russia, the European Union has committed to providing a €90 billion loan over the next two years.

This decision came as EU leaders opted not to use frozen Russian assets, a choice that sidesteps potential conflicts over using Russian sovereign cash for financing.

British finance minister Rachel Reeves expressed her approval of the agreement, emphasizing the urgency in ensuring Ukraine receives necessary funding.

(With inputs from agencies.)