Ukraine will repay its debt to the EU only after receiving reparations from Russia - Ursula von der Leyen
Kyiv • UNN
The European Union has agreed to finance Ukraine with 90 billion euros over two years. Ukraine will repay these funds only after receiving reparations from Russia, and frozen Russian assets will remain frozen.
Similar to the idea of a reparations loan, which EU leaders did not support, the agreed financing solution is similar to a reparations mechanism: Ukraine will only repay the debt after receiving reparations from Russia. This was stated by President of the European Commission Ursula von der Leyen at a press conference following the meeting of the European Council, as reported by UNN.
Member states have agreed to finance Ukraine by borrowing €90 billion from EU capital markets over the next two years. We will do this through enhanced cooperation, backed by the EU's budgetary reserve and based on unanimous agreement on amendments to the Multiannual Financial Framework. Similar to a reparations loan, and this is very important, Ukraine will only have to repay the loan after receiving reparations. Until then, blocked Russian assets will remain blocked, and the Union reserves the right to use residual cash to finance the loan.
She emphasized that "a just and lasting peace for Ukraine" was "the motto of today's discussion."
We have reached an agreement according to which we can meet Ukraine's financial needs for the next two years.
Ursula von der Leyen recalled that two solutions had been proposed, "both legally sound, both technically feasible."
"On the one hand, we proposed EU borrowing on the market, and on the other hand, we developed a reparations loan. What was very important in our discussion was that last week, already on Friday, we sent a very clear and strong political signal by immobilizing Russian assets in the European Union for the long term. So, this message was very clear, and building on it, we agreed today to find a solution for financing Ukraine for the next two years," she added.
Recall
The European Union countries have agreed to provide Ukraine with 90 billion euros in aid for 2026–2027. This was stated by the President of the European Council, António Costa.