EU plans to finalize Ukraine aid from frozen Russian assets by Christmas
Photo: Emmanuel Macron, President of France (Getty Images)
European Union countries plan to finalize a decision on providing aid to Ukraine using frozen Russian assets by Christmas, French President Emmanuel Macron said during a press conference with Ukrainian President Volodymyr Zelenskyy.
"From the very beginning, I said we would find a technical solution that addresses all legal issues... The goal is to finalize this by the next European Council, that is, by Christmas. The European Commission, by the way, will announce the corresponding decisions in the coming days," Macron said.
He emphasized the need to ensure "reliable protection" regarding frozen Russian assets. Any changes must be made taking into account the preservation of asset control and compliance with international rules. It is also necessary to provide Ukraine with predictability and long-term financing for its defense efforts, as well as long-term support for its army.
Reparations loan
Ukraine expects up to $45 billion in external financing in 2025–2026 to cover its budget deficit and military spending.
The European Union has already transferred €35 billion from frozen Russian assets, and the next step is the provision of a so-called reparations loan of around €140 billion, secured by these funds.
The bulk of the loan will be used for defense purposes, including weapons purchases, and support for the state budget, while half of 2026 expenditures are expected to be covered by domestic revenue.
Approval of the reparations loan has been delayed: the European Council meeting on this matter has been postponed to December 18, and its adoption by year-end remains uncertain. Key obstacles include Belgium's position, where the Russian assets are held, and concerns from some countries about taking full responsibility if Russia makes claims.
For more details on the reparations loan, see the material by RBC-Ukraine.
