"We will do whatever we can to support Ukraine, regardless of decisions in Washington," Josep Borrell, vice president of the European Commission, told reporters. "Ukraine needs to boost their defense capacities - and they need it now."
The International Monetary Fund estimated last year that Ukraine faced a $38 billion gap in its finances in 2025. As such, it relies on help from the US and its Western allies to help fight off Russia's invasion.
In June, the G7 countries agreed to fuel the Ukrainian war effort with $50 billion, using interest from $300 billion worth of frozen Russian assets situated in the EU and surrounding areas.
The FT report said that officials involved in the talks are now worried that Hungary would prove a hindrance to this plan. The US had said it planned to release the loan by the end of the year, but the idea came with several potential liabilities.
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