European Commission prepares €90 billion loan for Ukraine
With the money, the Ukrainian government must give priority to purchasing weapons and military equipment in its own country and in Europe, but “from time to time” Kiev will also be able to turn to third countries, according to Von der Leyen, if the equipment is not available in Europe. “It is a lot of money, so it must also yield returns for us by creating jobs and stimulating research and development,” is how the Commission President explained the preference for purchases in Europe.
The Ukrainians are lukewarm about this restriction, as are a number of member states in the European Union who argue that Kiev, in the nearly four-year-long war with Russia, must retain the freedom to strengthen itself as quickly and efficiently as possible. Member states such as France, on the other hand, insisted that the money must go primarily to the European arms industry, and not to American companies.
At the December summit, the European heads of state and government chose this loan over the use of the frozen Russian assets held by the financial services provider Euroclear in Brussels. Von der Leyen and the German Chancellor Friedrich Merz pushed hard for this, but encountered resistance from Belgium, which feared the legal and financial consequences and demanded unlimited solidarity from the other member states.
Von der Leyen, however, again stressed that the Russian assets can still be tapped. They will remain frozen until the war is over and Russia has paid for the damage. Ukraine will also only have to start repaying the European loan once Russia has made reparations.
(Brussels, 01/15/2026)
