Demonstrators hold flags of Ukraine and the European Union on Boulevard du Temple in Paris, France, on February 23, 2025.
Amaury Cornu | AFP | Getty Images
EU Council President Antonio Costa announced Friday that European Union countries will allocate 90 billion euros ($105.5 billion) in aid to Ukraine in 2026 and 2027.
“We have come to an agreement,” Costa wrote to X, confirming that the package had been approved.
EU governments were debating whether to use 210 billion euros of frozen Russian assets, most of which are held in Belgium, to support so-called reparations loans to Ukraine.
On Wednesday, Ukrainian President Volodymyr Zelensky urged EU leaders and partners to extend their support and decide to use frozen Russian assets to help Ukraine, saying sustained support is essential to maintain the country’s resilience and prevent Russia from pursuing war next year.
Belgian Prime Minister Bart de Wever said he needed concrete guarantees before backing the use of Russian assets to fund loans to Kiev, citing legal uncertainty and potential litigation risks, Reuters reported.
EU leaders ultimately chose not to use Russian assets to finance support for Ukraine. In return, the EU agreed to raise funds through joint borrowing backed by the EU budget.
“Ukraine will repay this loan only if Russia pays reparations,” Costa said in a statement. “The only way forward is through a ceasefire and a negotiated peace. Our political and financial support for Ukraine remains unwavering.”
Under the Ukraine Facility and related programs, the EU has already provided several rounds of financial support, including bridge loans, or short-term loans or advances, of approximately 6 billion euros provided to cover Kyiv’s urgent budgetary needs. Ukraine has also received 18.1 billion euros in loans this year under a plan led by the Group of Seven (G7).
The deal provides a financial backstop for Ukraine while underscoring European pressure to form a U.S.-led peace deal to end the conflict between Russia and Kiev.
Since Russia began its war against Ukraine in 2022, European Union aid to Kiev has reportedly exceeded 187 billion euros.
In late November, U.S. and Ukrainian officials met in Geneva to work on a refined peace framework aimed at narrowing differences over a U.S.-proposed plan to end the conflict.
According to Reuters, the plan includes territorial and security clauses reflecting Russia’s position, such as freezing current forward control and approving changes in control of occupied territories, as well as measures affecting Ukraine’s military and NATO ambitions, which Kyiv found difficult to accept.
