EU's Bold Financial Support for Ukraine: A $105 Billion Commitment

The European Union has agreed to lend Ukraine €90 billion ($105 billion), however, it will not utilize frozen Russian assets as collateral. EU leaders emphasized resource security for Ukraine's resilience, highlighting long-term financial strategies involving Russian asset access, while differing opinions reveal varied national positions on the issue.

The European Union has finalized an agreement to lend Ukraine €90 billion ($105 billion), providing essential financial support without employing frozen Russian assets as collateral. This significant decision marks a unified commitment to uphold Ukraine's financial security during ongoing conflicts.

EU Commission President Ursula von der Leyen expressed the Union's unified goal of achieving a lasting peace in Ukraine, assuring financial assistance for the next two years. Ukrainian President Volodymyr Zelenskiy acknowledged the support as crucial to reinforcing Ukraine's resilience against external threats.

German Chancellor Friedrich Merz and Italian Prime Minister Giorgia Meloni highlighted the importance of immobilizing Russian assets as financial guarantees for the loan. Meanwhile, various EU leaders, such as Hungarian Prime Minister Viktor Orbán, voiced concerns over potential economic burdens, reflecting diverse perspectives on the agreement's implications.

(With inputs from agencies.)