Ukraine war live: Zelenskyy says EU agreement to loan €90bn to Kyiv ‘truly strengthens our resilience’ | Ukraine
important events
Prime Minister of Hungary Viktor Orban The country agreed not to block a huge EU-backed loan to Ukraine as long as Slovakia and the Czech Republic were excluded from loan guarantees.
A text of the EU agreement stated that the agreement would not affect the financial obligations of these three countries, which do not want to contribute to Ukraine’s finances.
Moscow-friendly Hungary had previously announced that it would oppose the agreement, just as it opposed the use of frozen Russian assets.
Diplomats said the deal followed hours of discussions between leaders over the technical details of a loan based on frozen Russian assets that proved too complex or politically challenging to resolve at this stage.
“We have moved from saving Ukraine to at least saving the reputation of those pushing for the use of frozen assets,” one of them said.
You can read more about the deal, as well as other developments in the Ukraine war (including Russia’s attacks near the Black Sea port of Odessa) in our daily briefing here:
The EU deal to provide a 90 billion euro interest-free loan to Kiev will meet most of Ukraine’s immediate financial needs, but will be secured against EU borrowing instead of frozen Russian assets.
The President of the European Council said after summit talks ended in the early hours of Friday, Jennifer Rankin reported from Brussels: Antonio Costa“We committed and we delivered,” he told reporters.
He said EU leaders had approved a decision to give Ukraine a loan of €90bn (£92bn/$105bn) for the next two years, backed by the EU budget, and that Kiev would only repay it if Russia paid compensation.
Costa added: “The union reserves the right to utilize dormant assets to repay this loan.”
EU leaders attended the summit on Thursday, with many seeking to secure a desperately needed loan against some of Russia’s 210 billion euros of frozen assets on the continent. But the plan collapsed after Belgium, which hosts 88 percent of Russian funds in the EU, demanded unlimited budget guarantees from other member states if Moscow successfully won its compensation claim.
Belgian prime minister, Bart De WeverHe said the compensation credit wasn’t a good idea and he had a lot of unfinished business. “And if you start pulling on the loose ends of the strings, the whole thing collapses.”
You can read the full report here:
Opening summary
Welcome to our live coverage of the latest developments in the Ukrainian war.
Volodymyr Zelenskyy He said he was grateful to European Union leaders who agreed on a plan to provide Ukraine with a 90 billion euro ($105 billion) loan to cover looming budget deficits.
“This is an important support that really strengthens our resilience,” the Ukrainian president said. Publish on X on Friday.
The EU leaders’ agreement came at summit talks in Brussels, but they failed to agree on using frozen Russian assets to build up loan funds.
Zelenskyy said, “It is important that Russian assets remain inactive and Ukraine receives guarantees of financial security for the coming years. Thank you for the result and unity. Together we defend the future of our continent.”
The EU deal came after leaders agreed to an interest-free loan backed by the bloc’s common budget for the next two years, giving Kiev a lifeline. Donald Trump He is pressing for a quick deal to end Russia’s war in Ukraine.
“Today’s decision will provide Ukraine with the necessary tools to defend itself and support the Ukrainian people,” the European Council president said. Antonio CostaThe person who chairs the summit.
Meanwhile, US and Russian representatives are preparing to hold new talks on Ukraine in Miami over the weekend, after Trump called on Kiev to act “quickly” to reach a peace agreement.
In important developments:
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The main option at the EU summit was to release nearly 200 billion euros of frozen assets of the Russian central bank The EU moved to provide a loan to Kiev, but this failed after Belgium, where most of the assets are held, demanded guarantees on liability sharing that were too much for other countries. Belgian prime minister Bart De Wever He said he believed “rationality prevailed” when the summit ended.
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German Chancellor Friedrich Merz has pressed hard for Russia’s frozen assets to be used, but still said the final decision on the EU-backed loan “sends a clear signal”European Commission President Ursula von der Leyen said Ukraine would have to repay the loan only after paying for the damages caused by Moscow.
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Hungarian prime minister Viktor Orbán agrees not to block Loan to Ukraine to meet its military and economic needs for the next two years as long as his country Slovakia and the Czech Republic are excluded from the debt guarantees. The text of the agreement stated that the agreement would not affect the financial obligations of the three countries that do not want to contribute to Ukraine’s financing.
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Zelenskyy had called on EU leaders at the beginning of the summit. using frozen Russian assets“It’s moral, it’s fair, it’s legal,” he says. The EU estimates that Ukraine needs an extra €135 billion to stay afloat over the next two years.
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In Washington, Donald Trump urged Ukraine to move quickly on a peace deal ahead of new talks expected in Miami. The US president told reporters in the Oval Office: “They’re getting closer to something, but I hope Ukraine moves quickly. I hope Ukraine moves quickly, because Russia is there. And, you know, whenever they take too much time, Russia changes its mind.” Trump envoys Steve Witkoff and Jared Kushner plan to meet with Russian officials in Florida this weekend after the envoys met with a Ukrainian delegation in Berlin last Sunday and Monday, a White House official said.
With agencies
