After protracted negotiations spanning over 24 hours at the Brussels summit, European Union leaders have unanimously approved a substantial €90 billion financial assistance package for Ukraine. This critical agreement emerged as a compromise solution following the bloc’s inability to reach consensus on utilizing frozen Russian assets worth approximately €200 billion.
European Council President Antonio Costa heralded the achievement, declaring on social media platform X, “We committed, we delivered.” The financing mechanism involves a loan backed collectively by the EU’s common budget, effectively circumventing the legal and political complications surrounding directly confiscated Russian funds held predominantly in Belgian financial institutions.
The breakthrough followed intense diplomatic efforts to address concerns from multiple member states regarding liability sharing for the frozen assets. Belgian Prime Minister Bart De Wever emphasized that the loan agreement prevented potential “chaos and division” within the union while demonstrating European unity in supporting Ukraine’s defense capabilities.
Ukrainian President Volodymyr Zelensky had previously warned that without immediate financial infusion by spring, Ukraine would face severe constraints in military production, particularly regarding drone manufacturing capabilities. EU assessments indicate Ukraine requires approximately €135 billion over the next two years to maintain economic stability, with critical shortfalls anticipated beginning April.
Concurrently, French President Emmanuel Macron introduced a contrasting diplomatic perspective, suggesting the necessity for European re-engagement with Russian leadership. “I believe that it’s in our interest as Europeans and Ukrainians to find the right framework to re-engage this discussion,” Macron stated, proposing such dialogue should occur within “coming weeks.”
The EU’s financial commitment coincides with intensified peace negotiation efforts, including scheduled talks between US and Russian officials in Miami this weekend. Kremlin representative Kirill Dmitriev is expected to meet with Trump envoys Steve Witkoff and Jared Kushner, while parallel discussions between Ukrainian and US delegations are set to occur in the United States.