The European Union allocates 90 billion euros in loans to Ukraine

European Union leaders decided on Friday to allocate a loan of 90 billion euros to Ukraine. This was reported by Zamin.uz.

This fund will be directed towards financing Ukraine's defense. The decision was made against the backdrop of disagreements regarding the use of Russia's frozen assets.

At the meeting, the European Commission was authorized to continue developing a credit mechanism based on Russia's frozen assets. However, it has become clear that implementing this option is currently difficult.

The reason for this is the risks that may arise, especially from Belgium, where a large portion of the assets is located. The allocated loan will be provided to Ukraine under the guarantee of the European Union budget.

At the same time, Russia's assets worth a total of 210 billion euros remain frozen. These funds will not be used until Moscow fulfills its obligation to compensate for the damages caused by the war.

European Union leaders emphasized that this decision demonstrates Europe's unity and firm determination to assist Ukraine. Ukrainian President Volodymyr Zelenskyy also called for support in utilizing Russia's frozen assets.