EU ambassadors approve loan for Ukraine of €35 billion
Illustrative photo: the EU approved a loan for Ukraine (Getty Images)
EU ambassadors have agreed to provide Ukraine with a €35 billion loan. It will be repaid using profits from frozen Russian assets, according to Radio Liberty correspondent Rikard Jozwiak on Twitter (X) and the EU Council press service.
"EU ambassadors have just agreed to a 35 billion euro aid package for Ukraine for 2025," he wrote.
Jozwiak also added that the ambassadors were unable to agree on extending sanctions against the Central Bank of Russia's assets for 36 months instead of six months. Hungary opposes such a decision.
It's important to note that extending sanctions against the Central Bank of Russia for 36 months is a condition for allocating a $50 billion loan to Ukraine, which the G7 participants have committed to providing. This condition was set by the United States.
Washington wants to ensure that the EU sanctions regarding Russian assets will remain in place until reparations are paid to Ukraine by Russia.
Updated at 09:07 PM Kyiv time
The EU Council confirmed that the €35 billion loan for Ukraine has been approved.
"The financial assistance aims to provide immediate relief to Ukraine’s urgent financing needs that have increased due to Russia’s intensified aggression towards Ukraine," the Council clarified.
They also added that this loan is the EU's contribution to the G7 initiative to provide Ukraine with a $50 billion loan.
Today, EU member states agreed that if the European Parliament supports the European Commission's proposal for the loan without changes, the EU Council will also not amend the initiative.
What preceded this
On September 20, European Commission President Ursula von der Leyen announced a €35 billion loan for Ukraine as part of G7 commitments.
According to Ukrainian President Volodymyr Zelenskyy, the funds are intended to be directed towards the energy sector as well as defense.
