Košta: EU has decided to provide Ukraine with 90 billion euros in financial support

BRUSSELS – President of the European Council Antonio Košta stated that the European Union has decided to provide Ukraine with 90 billion euros in financial support for the period 2026-2027. Košta noted that the decision on the aid package has been approved and that EU leaders have committed to implementing it. “We have an agreement. The decision to provide Ukraine with 90 billion euros of support for the years 2026-27 has been approved. We have made commitments – and fulfilled them,” Košta wrote. German Chancellor Fridrih Merc said that the decision was made “unanimously” and that the financial package for Ukraine was approved, with the provision of an interest-free loan in the amount of 90 billion euros. According to him, the funds will be sufficient to cover Ukraine’s military and budgetary needs over the next two years. Merc stated that this decision represents a decisive signal for ending the war, assessing that Russian President Vladimir Putin will agree to concessions only when he realizes that the war will not bring any benefit to Russia. According to him, frozen Russian assets will remain blocked until Russia pays reparations to Ukraine. As he stated, Ukraine will start repaying the loan only after the reparations are paid, and if that does not happen, the EU will, in accordance with international law, use the frozen Russian assets to repay the loan.

He added that the EU can immediately provide support to Ukraine by using existing European instruments. The countries were forced to agree on an emergency backup plan based on joint EU debt, which Belgian Prime Minister Bart de Vever had insisted on for weeks, and which was considered unlikely until a few hours before the agreement was reached. “The essence is that, after today, our support for Ukraine is guaranteed,” Danish Prime Minister Mete Frederiksen said after the summit ended at three o’clock in the morning. (December 19)