Europe Approves €35 Billion Loan to Ukraine, Funded by Frozen Russian Assets

Ukraine is set to receive a significant loan of 35 billion euros from the European Commission to address its financial needs. This announcement was made by European Commission President Ursula von der Leyen during a joint press conference with Ukrainian President Volodymyr Zelensky in Kyiv. This marks von der Leyen's eighth visit to Ukraine since Russia launched its full-scale invasion.

Von der Leyen highlighted that the European Commission has approved measures that will enable the European Union to borrow 35 billion euros, backed by commitments from the G-7. She emphasized the importance of this loan, describing it as a substantial step forward, and expressed confidence that the funds will be provided to Ukraine promptly.