Ukrainian Foreign Minister spoke to Borrell, among issues discussed were Russian assets

“I had a productive phone conversation with EU Diplomacy Chief Josep Borrell on the eve of the EU Foreign Affairs Council meeting, to which I am pleased to be invited,” Sybiha explained.

He also noted that during the conversation they discussed the tangible progress in providing Ukraine with €35 billion through the use of frozen Russian assets and the next joint steps.

The European Union plans to provide Ukraine with a €35 billion loan secured by future profits from frozen assets of the Russian central bank to guarantee more predictable financial support for Ukraine.

In September, it was reported that European Commission President Ursula von der Leyen would make the announcement during her visit to Kyiv.

The loan is part of a $50 billion aid plan for Ukraine that emerged from negotiations with the United States and the G7 countries.

Loan to Ukraine

In June, the G7 leaders agreed to provide Ukraine with a $50 billion loan to be repaid from the proceeds of Russia's frozen assets.

This week, the Financial Times reported that the EU is preparing to provide new funding by the end of the year, regardless of US participation. The unilateral action comes amid concerns in Brussels that Hungary will prevent the bloc from providing the guarantees needed for the US to participate in the asset freeze.

According to the newspaper, the final figure may vary from 20 to 40 billion euros and will be set by the European Commission after consultations with member states.

During her eighth visit to Ukraine, Von der Leyen wrote on the X network that she would meet with leaders in Kyiv to discuss a range of issues from “winterization to defense, EU accession, and progress on G7 loans.”