EU Okays €90 Billion Loan for Ukraine; Putin Says Kyiv “Refuses to End Conflict”

European Union leaders have agreed to provide Ukraine with a €90 billion (£79 billion; $105 billion) loan after failing to reach consensus on using frozen Russian assets, BBC News reported.

The EU loan represents about two-thirds of the €135 billion Ukraine is estimated to need to remain solvent over the next two years. (Photo: Володимир Зеленський)

Ukrainian President Volodymyr Zelensky said the support “truly strengthens our resilience” after urging leaders to tap Russian funds valued at about €210 billion. Meanwhile, Russian President Vladimir Putin said in his marathon end-of-year address that Kyiv is “refusing to end the conflict.”

Belgium — where most of Moscow’s assets are held — has refused to unlock the funds without assurances they would be protected should the Kremlin pursue legal action.

The EU loan represents about two-thirds of the €135 billion Ukraine is estimated to need to remain solvent over the next two years.