Ukraine will repay the loan provided by the European Union using frozen Russian assets only after Russia pays reparations.
This was announced by António Costa on Friday at a press conference following the European Council meeting.
The President of the European Council said the meeting decided to grant Ukraine a €90 billion loan over the next two years.
“As an urgent measure, we will provide a loan backed by the EU budget,” he said. “This will help meet Ukraine’s immediate financial needs, and Ukraine will repay this loan only after Russia has paid reparations. The European Union reserves the right to use frozen assets to repay this loan.”
Costa also reported that a decision was taken to extend sanctions against Russia.
“Our goal is not to prolong the war. Today’s decisions make a key contribution to achieving a just and lasting peace in Ukraine, because the only way to bring Russia to the negotiating table is to strengthen Ukraine,” the President of the European Council emphasized.
He added that the EU’s political and financial support for Ukraine would remain unchanged in matters of war, peace, and reconstruction.
“We aim to build a free and prosperous Ukraine within the European Union,” Costa concluded.
