European Union leaders have agreed to provide Ukraine with a €90 billion ($105 billion) support package for 2026 and 2027. They reached this compromise without immediately using frozen Russian assets. The deal came after long negotiations at an EU summit late Thursday, according to CNN.
This funding is intended to help Ukraine address its budget and military needs, which have increased as U.S. support has declined. The IMF estimates Ukraine will require about €137 billion over the next two years. The EU aims to provide about two-thirds of that through joint borrowing.
The EU plans to raise the funds through loans, with repayment linked to any future financial contributions from Russia. The bloc may, however, consider using frozen assets at a later stage. For now, however, leaders adopted a cautious approach due to legal and financial concerns, particularly from Belgium, where most of the €210 billion in frozen Russian assets are located.
