European Union leaders agreed on Friday to provide Ukraine with a €90 billion ($105 billion) loan for 2026–2027, offering Kyiv a crucial financial lifeline as Russia’s war grinds on and the country faces mounting budget pressures.
Ukrainian President Volodymyr Zelenskiy welcomed the decision, saying the support would strengthen Ukraine’s resilience and ensure financial stability over the coming years.
“I am grateful to all leaders of the European Union for the European Council’s decision on €90 billion in financial support for Ukraine in 2026–2027,” Zelenskiy wrote on X. “This is significant support that truly strengthens our resilience.”
The agreement was reached after more than a day of negotiations at an EU summit in Brussels, following divisions over whether to use roughly €200 billion in frozen Russian assets held largely in Belgium. Instead, EU leaders opted for a loan backed by the bloc’s common budget.
EU Council President Antonio Costa said the deal demonstrated unity among member states. “We committed, we delivered,” he wrote on X.
Belgian Prime Minister Bart De Wever said the decision avoided internal divisions within the bloc. “We remained united,” he said, adding that borrowing rather than using frozen Russian assets prevented “chaos and division.”
Zelenskiy had pushed for the direct use of Russian assets, but Belgium demanded liability guarantees that other countries were unwilling to provide. Zelenskiy said it was important that the assets remain immobilised, calling the agreement a “financial security guarantee” for Ukraine.
The European Commission estimates Ukraine will need an additional €135 billion to remain solvent over the next two years. Zelenskiy has warned that without fresh funding by spring, Ukraine would be forced to cut back drone production and other military capabilities.
German Chancellor Friedrich Merz said the agreement sent a strong signal to Moscow, while Polish Prime Minister Donald Tusk said Europe had to “rise to this occasion” despite Russian warnings against using its funds.
French President Emmanuel Macron said it could be “useful” for Europe to re-engage in talks with Russian President Vladimir Putin, suggesting discussions might resume in the coming weeks.
The deal comes amid intensified diplomatic efforts, as US President Donald Trump pushes for a swift end to the war. US and Russian officials are expected to meet in Miami this weekend to discuss a potential peace plan, according to a White House official.
Zelenskiy said Ukrainian and US delegations would also hold talks in Washington on Friday and Saturday, adding that Kyiv wanted clearer guarantees to prevent any future Russian invasion.
