The European Union has committed approximately €90 billion (around $105 billion) to support Ukraine, responding to the dire financial needs of the country amid its ongoing conflict with Russia.
This significant funding will cover Ukraine's military and economic requirements for the next two years, addressing urgent budget gaps as the nation faces a potential financial crisis.
The decision marks a pivotal shift for the EU, which opted for joint borrowing instead of tapping into frozen Russian assets, a move that encountered resistance due to legal concerns and potential backlash.
Key figures in the negotiations included German Chancellor Friedrich Merz and Belgian officials, whose resistance to using Russian assets was crucial in shaping the financial strategy.
Russian President Vladimir Putin reacted by warning of serious consequences should the EU pursue contentious plans concerning frozen assets, framing such actions as theft and retaliation.
The agreement showcases the EU's commitment to Ukraine, reflecting a complex balancing act of geopolitical support amidst internal divisions and ongoing challenges in the region.
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