European Union approves over $105 billion toward Ukraine aid package for next two years

European Union countries volition allocate 90 cardinal euros ($105.5 billion) successful assistance to Ukraine for 2026 and 2027, EU Council President Antonio Costa said connected Friday.

"We person a deal," Costa wrote connected X, confirming the bundle had been approved.

EU governments had been debating whether to usage 210 cardinal euros of frozen Russian assets, astir of it held successful Belgium, to enactment a alleged reparations indebtedness for Ukraine.

On Wednesday, Ukrainian President Volodymyr Zelenskyy urged EU leaders and partners to summation enactment and decide connected utilizing frozen Russian assets to assistance concern Ukraine, saying sustained backing was captious to support the state resilient and to deter Russia from pressing connected with the warfare adjacent year.

Belgium's Prime Minister Bart De Wever had said his state needed factual guarantees earlier supporting usage of frozen Russian assets, astir of which are held successful Belgium, to money the indebtedness to Kyiv, citing ineligible uncertainties and imaginable litigation risks, Reuters reported.

EU leaders ultimately opted not to pat frozen Russian assets to concern Ukraine's enactment package. Instead, the bloc agreed to rise wealth done associated borrowing backed by the EU budget.

Under the Ukraine Facility and related programs, the EU has already delivered respective tranches of fiscal assistance, including astir 6 cardinal euros successful bridge-financing, orshort-term loans oregon advances provided to assistance Kyiv screen urgent fund needs. Ukraine has besides received 18.1 cardinal euros successful loans nether a Group of Seven, oregon G7, led strategy this year.

The statement provides a important fiscal backstop for Ukraine, portion underscoring Europe's propulsion to signifier U.S.-led bid negotiations to extremity Russia's struggle with Kyiv.

Since the commencement of Russia's warfare against Ukraine successful 2022, the European Union enactment to Kyiv has reportedly exceeded 187 cardinal euros.