EU summit agreed on a €90 billion loan for Ukraine

Following the first day of the European Union summit in Brussels, heads of state and government of EU countries agreed to provide Ukraine with large-scale financial support in the form of a €90 billion loan. The funds are planned to be allocated under guarantees of the EU’s common budget, which will make it possible to secure financing without the immediate redistribution of national contributions from member states.

During the discussions, EU leaders did not reach a unified position on the use of frozen Russian assets to assist Ukraine. This mechanism was considered as one of the possible sources of financing, but no consensus was achieved on this issue as a result of the negotiations. As a result, the focus was placed on a loan model backed by pan-European guarantees.

The provision of the loan implies that responsibility for the obligations will be shared among all EU countries through the Union’s common budget. This approach is viewed as a way to accelerate the disbursement of funds and maintain the financial stability of individual member states. It is expected that the resources received will be used to cover Ukraine’s budget expenditures and support its financial system.

The discussion of financial assistance took place against the backdrop of ongoing disagreements within the EU regarding further steps on the confiscation or use of frozen Russian assets. Some countries advocate for tougher measures, while others insist on the need to comply with legal and financial constraints, which complicates the adoption of coordinated decisions.

The €90 billion loan becomes one of the largest financial instruments of support for Ukraine from the European Union. It complements previously adopted aid programs and reflects the EU’s intention to continue economic support in the medium term.

It is expected that the parameters of the loan, including maturities, repayment terms, and mechanisms for the distribution of funds, will be clarified during subsequent consultations between EU institutions and the governments of member states. The final formalization of the agreements may take additional time.

Thus, the Brussels summit recorded the EU’s readiness to allocate a significant volume of financing to Ukraine, while the issue of using frozen Russian assets remains open and is postponed for further discussion.