Politico is reporting that 24 European Union
countries have agreed to provide Ukraine $105 Billion usd to cover 2/3 of Ukraine's outstanding military and government needs for 2026 and 2027. Britain
, Norway
and Canada
will combine to cover the remaining 1/3, in conjunction with international financial institutions. Slovakia
, Hungary
and Czechia
are not participating in the funding mechanism, in turn, forfeiting their right to veto the plan.
Of important note, frozen Russian funds WILL NOT be used to fund a loan, as European leaders failed to convince Belgium
(the holder of the majority of the funds) that the Russian asset backed loan was a better strategy than the use of joint EU debt.
Regardless, it appears that the details of the plan will be ironed out tomorrow and Ukraine will continue to receive robust funding throughout 2026 and 2027, much to the frustration of Russia.
www.theguardian.com
www.euractiv.com
Of important note, frozen Russian funds WILL NOT be used to fund a loan, as European leaders failed to convince Belgium
Regardless, it appears that the details of the plan will be ironed out tomorrow and Ukraine will continue to receive robust funding throughout 2026 and 2027, much to the frustration of Russia.
Ukraine deal: EU leaders agree €90bn loan, but without use of frozen Russian assets
Two-year deal will cover most of Ukraine’s needs, but will be secured against EU borrowing rather than Russian assets
EUCO as it happened: €90B Ukraine loan sealed but reparations call delayed | Euractiv
"We committed and we delivered," Council President António Costa told reporters after the summit
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