EU leaders agree on 90 billion euro loan to Ukraine after a plan to use Russian assets unravels
Summary
European Union leaders agreed to provide a 90 billion euro interest-free loan to Ukraine for 2026-27 to support its military and economic needs after plans to use frozen Russian assets were halted due to legal concerns.
Key Points
- EU leaders agreed on a 90 billion euro interest-free loan to Ukraine for 2026-27 to support its military and economic needs.
- Plans to use frozen Russian assets, mostly held in Belgium, to fund Ukraine were abandoned due to legal risks and objections from Belgium.
- Hungary, Slovakia, and the Czech Republic opposed the loan but did not block it and were promised financial protections.
- Ukraine faces severe financial strain with an estimated need of 137 billion euros in 2026-27, and borrowing on capital markets is seen as the most practical solution.
