EU To Raise €35 Billion Loan For Ukraine Using Frozen Russian Assets

The European Union (EU) has announced plans to raise a €35 billion loan to support Ukraine’s economy and military, Euronews reported, in a report by Jorge Liboreiro and Shona Murray.

The loan was revealed by European Commission President Ursula von der Leyen during a press conference in Kyiv alongside Ukrainian President Volodymyr Zelenskyy. I Photo: Володимир Зеленський Facebook

The loan was revealed by European Commission President Ursula von der Leyen during a press conference in Kyiv alongside Ukrainian President Volodymyr Zelenskyy.

The funds aim to fill gaps in Ukraine’s state budget and provide additional weapons as the country continues to defend itself from a renewed Russian offensive that has severely damaged its energy infrastructure.

Von der Leyen assured "maximum flexibility" in how the funds would be used, stating, "Russia keeps targeting your civilian energy infrastructure in a blatant and vicious way to try to plunge your country into darkness."