EU Approves €35 Billion Loan for Ukraine, Backed by Frozen Russian Assets Amid Ongoing Conflict

European Union members have officially approved a substantial €35 billion loan for Ukraine, aimed at providing critical financial support amid the ongoing conflict with Russia. The announcement was made by European Commission President Ursula von der Leyen during her visit to Kyiv, where she emphasized the urgent need for continued assistance as Ukraine faces relentless attacks.
The loan will be financed through future profits derived from frozen Russian state assets held primarily in Europe. Von der Leyen stated, “Relentless Russian attacks mean Ukraine needs continued EU support,” highlighting the EU’s commitment to aiding Ukraine’s recovery and rebuilding efforts.

This financial package is part of a broader strategy agreed upon by the G7 countries earlier this year, which aims to support Kyiv not only with military aid but also with long-term recovery assistance. The EU’s decision reflects an ongoing commitment to bolster Ukraine’s economy and infrastructure as it endures the impacts of war.
The approval of this loan represents a significant step in international efforts to stabilize Ukraine’s economy. With much of its infrastructure damaged and its economy severely impacted, the financial backing from the EU is expected to play a crucial role in facilitating recovery initiatives and ensuring essential services continue to function.
As the situation evolves, the EU’s support underscores its strategic partnership with Ukraine and its determination to hold Russia accountable for its actions. The loan is anticipated to be disbursed in the coming months, providing much-needed relief as Ukraine navigates these challenging times.