Photo: theguardian.com
European Leaders Poised to Unlock €140bn from Frozen Russian Funds for Ukraine
European leaders are nearing a consensus to use €140bn from frozen Russian funds to support Ukraine, a critical step for its ongoing defense efforts against Russia.
- The European Union is set to propose a €140bn loan to Ukraine, backed by frozen Russian central bank deposits, to bolster its defense against ongoing Russian aggression.
- Discussions among G7 finance ministers in Washington last week revealed strong optimism regarding the agreement, which leaders hope to finalize by the end of the year.
- Polish foreign minister highlighted that plans for the loan are moving to happy resolution, reflecting robust support from various European nations, including Hungary.
Why It Matters
Unlocking these funds is crucial for Ukraines defense capabilities amid the ongoing conflict with Russia. This financial support from the European Union could significantly impact the war dynamics in Eastern Europe.