"But a draft text of the summit's conclusions, seen by the Reuters news agency, said it would come from capital markets, secured against the EU budget, rather than the bloc proceeding with its contentious plan to use frozen Russian assets for a loan supporting Ukraine's war effort. At the same time, EU governments and the European Parliament will continue discussing setting up a loan for Ukraine that would be based on Russian central bank assets."
"Kirill Dmitriev, Russian President Vladimir Putin's special envoy for investment and economic cooperation, said on Friday that law and sanity won, after EU leaders decided to borrow cash to fund Ukraine rather than use Russia's frozen assets. Major BLOW to EU warmongers led by failed Ursula voices of reason in the EU BLOCKED the ILLEGAL use of Russian reserves to fund Ukraine, Dmitriev said on X, mentioning European Union Commission President Ursula von der Leyen."
EU leaders agreed to provide an interest-free loan to Ukraine to meet military and economic needs over the next two years. The decision allocates 90 billion euros of support for 2026–27 and was announced by EU Council President Antonio Costa. The funding will be raised by borrowing on capital markets, secured against the EU budget, rather than by using frozen Russian assets. Negotiations will continue on a separate loan proposal that would use Russian central bank assets. Hungary, Slovakia and the Czech Republic are exempted from financing obligations. Russia's envoy welcomed the decision and Ukraine thanked the EU.
Read at www.aljazeera.com
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