Two-year deal will cover most of Ukraine’s needs, but will be secured against EU borrowing rather than Russian assets
European Union leaders have decided to provide a massive interest-free loan to Ukraine to meet its military and economic needs for the next two years, after failing to agree on using frozen Russian assets, diplomats said in the early hours of Friday.
“We have a deal. Decision to provide €90bn ($106bn) of support to Ukraine for 2026-27 approved. We committed, we delivered,” EU Council president Antonio Costa said in a post on social media.
With public finances across the EU already strained by high debt levels, the European Commission had proposed using frozen Russian central bank assets to secure a huge loan to Kyiv, with joint borrowing against the EU budget as a second option.
wtf are they afraid of? what protections does the Neo-imperialist, invading, war criminal state have?
Afraid of loosing posturing, like the US did when they used their economic advantage to do just that. People, even the good guys, don’t like knowing that they don’t have total control over their wealth… and by using the bad guy’s money, even in justified matters, it sends a message to everyone in the broadest of daylight: “we control the money.”
If your advantage comes from other countries being willing to invest in your currencies, then trust becomes a huge part of that advantage. People care about money, not ethics, when they’re concerned about where to store their billions.