Demonstrators holding flags of Ukraine and the European Union on the Boulevard du Temple in Paris, France on Feb. 23, 2025.
Amaury Cornu | Afp | Getty Images
European Union countries will allocate 90 billion euros ($105.5 billion) in aid to Ukraine for 2026 and 2027, EU Council President Antonio Costa said on Friday.
“We have a deal,” Costa wrote on X, confirming the package had been approved.
EU governments had been debating whether to use 210 billion euros of frozen Russian assets, most of it held in Belgium, to support a so-called reparations loan for Ukraine.
On Wednesday, Ukrainian President Volodymyr Zelenskyy urged EU leaders and partners to increase support and decide on using frozen Russian assets to help finance Ukraine, saying sustained backing was vital to keep the country resilient and to deter Russia from pressing on with the war next year.
Belgium’s Prime Minister Bart De Wever had said his country needed concrete guarantees before supporting use of frozen Russian assets, to fund the loan to Kyiv, citing legal uncertainties and potential litigation risks, Reuters reported.
EU leaders ultimately opted not to tap frozen Russian assets to finance Ukraine’s support package. Instead, the bloc agreed to raise money through joint borrowing backed by the EU budget.
Under the Ukraine Facility and related programs, the EU has already delivered several tranches of financial assistance, including around 6 billion euros in bridge-financing, orshort-term loans or advances provided to help Kyiv cover urgent budget needs. Ukraine has also received 18.1 billion euros in loans under a Group of Seven, or G7, led scheme this year.
The agreement provides a crucial financial backstop for Ukraine, while underscoring Europe’s push to shape U.S.-led peace negotiations to end Russia’s conflict with Kyiv.
Since the start of Russia’s war against Ukraine in 2022, the European Union support to Kyiv has reportedly exceeded 187 billion euros.
