The European Union has decisively committed to a monumental €90 billion loan for Ukraine, directly addressing the urgent financial needs arising from the ongoing war with Russia.
In a lengthy and contentious summit, EU leaders shifted from a controversial plan to tap into frozen Russian assets to a more unified strategy of joint borrowing against the EU budget, reflecting both the complexity and urgency of the situation.
Despite the setbacks, Manfred Weber, president of the European People’s Party, indicated a future possibility of utilizing frozen Russian funds to bolster Ukraine’s resistance against aggression.
Ukrainian President Zelensky made a compelling case for accessing these assets, framing it as a just and necessary action in light of Russia's ongoing threats.
Russian President Putin warned of severe consequences in response to the EU's financial maneuvers, denouncing the plan as akin to theft and asserting the rightful ownership of the frozen assets.
This significant decision not only underscores the EU's financial commitment to Ukraine but also marks a pivotal moment in European political collaboration amid burgeoning geopolitical fraught with tension and uncertainty.
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