EU will not leave summit without decision on money for Ukraine, - Costa
European Council President António Costa said that EU leaders will decide on funding for Ukraine for 2026-2027 and will not conclude the summit without a final agreement.
According to Censor.NET, this was reported by European Pravda.
He recalled two important decisions taken by the EU on the way to approving funding for Ukraine.
"First, to freeze Russian assets in Europe until the end of the war, until Russia pays reparations to Ukraine. The second decision we made concerns meeting Ukraine's financial needs for 2026 and 2027. And today we will focus on approving the form for implementing this decision," Costa said.
According to him, the European Commission has presented several options for this.
"We have worked very hard, especially on one option that has strong support in the European Council, and I can assure you that we will work on it today and, if necessary, tomorrow, but we will never leave this council without a final decision on meeting Ukraine's financial needs for 2026 and 2027," the head of the European Council emphasised.
Russian assets to help Ukraine
- Earlier, European Commission President Ursula von der Leyen proposed using frozen Russian assets as collateral for providing Ukraine with "reparation loans". Formally, Russian assets subject to sanctions will not be confiscated, but Ukraine will repay such loans only after Russia pays reparations.
- According to various estimates, the European Union's "reparations loan" to Ukraine, secured by Russian assets, could amount to €130-140 billion. Its final size will be determined after the International Monetary Fund assesses Ukraine's financing needs in 2026 and 2027.
- In total, Euroclear currently holds more than €175 billion in cash from frozen Russian assets, which could be used to secure a new loan. But before the EU agrees to grant a reparations loan, it will want to repay the G7 loan to Ukraine of €45 billion ($50 billion) agreed last year, which was to be repaid from the proceeds of frozen Russian assets.
