Not a reparations loan. The EU has agreed on 90 billion euros of aid for Ukraine
Antonio Costa (Photo: ERA / Ronald Wittek)

At the summit, the leaders of the European Union member states approved a decision to support Ukraine with a EUR 90 billion loan for 2026-2027 – this soft loan considered as an alternative to a reparations loan if the plan to use the frozen assets of the Russian Federation to help Kyiv does not work. This was reported by head European Council António Costa, president European Commission Ursula von der Leyen and chancellor Germany Friedrich Merz.

"We have reached an agreement. The decision to provide support to Ukraine in the amount of 90 billion euros for 2026-2027 has been approved. We have undertaken our obligations, we have fulfilled them," the Fund said in a statement.

Von der Leyen emphasized that the main goal of the summit was to meet Ukraine's "urgent financial needs" and that this goal was achieved. The money for Ukraine will be raised in the capital markets using the borrowing mechanism.

The Czech Republic, Hungary and Slovakia will not participate in this mechanism, according to the conclusions of the summit EU.

She also emphasized that the European Union reserves the right to use the frozen cash balances of Russian assets to finance this loan.

"And funding for Ukraine after 2027 will be part of the next long-term discussion of the EU budget," the European Commission President added.

Merz noted that it would be an interest-free loan. According to the chancellor, Ukraine will have to repay the loan only after Russia pays reparations.

"This is a clear signal from Europe to Putin: this war is not worth it. We will freeze Russian assets until Russia compensates Ukraine for its losses," he wrote.

The money will start coming to Ukraine in the second quarter of 2026.

ADDED at 08.14. President Volodymyr Zelenskyy thanked to the EU leaders for their decision.

"This is a significant support that really strengthens our resilience. It is important that Russian assets remain immobilized and that Ukraine has received a financial security guarantee for the coming years," he wrote.

  • The EU summit began on December 18. Two possible mechanisms of financial support were on the agenda: raising €90 billion through the EU budget or providing a so-called reparations loan using Russian assets. Von der Leyen saidhe said that the negotiations will continue until the EU leaders make a decision on funding.
  • At the summit took zelensky's participation. Along the way, he said that lack of access to money could be a significant problem for Ukraine.
  • Pros information According to Reuters, EU leaders want Ukraine to start receiving financial support through this loan, including for its military needs, from the second quarter of 2026.