EU Leaders Agree on $105 Billion Loan to Fund Ukraine Without Using Russian Frozen Assets

European Council President Antonio Costa (L) and European Commission President Ursula von der Leyen (R) greet Ukrainian President Volodymyr Zelensky at the Special European Council in Brussels on March 6, 2025. Nicolas Tucat/AFP via Getty ImagesThe European Union will borrow money for a 90 billion euro ($105 billion) loan to Ukraine to fund the country’s defense over the next two years, rather than use frozen Russian assets, the 27-nation bloc said on Dec. 19.Member states also gave consent for the European Commission, the bloc’s executive arm, to keep working on a so-called reparations loan based on Moscow’s immobilized assets, but were unable to get that scheme off the ground for now due to objections from several countries.