Ukrainian President Volodymyr Zelensky on Friday thanked the EU for its 90 billion-euro loan to plug the country's looming budget shortfalls, saying it "truly strengthens" Kyiv's defense.
"This is significant support that truly strengthens our resilience," Zelensky said on X.
"It is important that Russian assets remain immobilized and that Ukraine has received a financial security guarantee for the coming years."
European Union leaders decided on Friday to borrow cash to loan 90 billion euros ($105 billion) to Ukraine to fund its defense against Russia for the next two years rather than use frozen Russian assets, sidestepping divisions over an unprecedented plan to finance Kyiv with Russian sovereign cash.
The leaders also gave the European Commission a mandate to keep working on a so-called reparations loan based on Russian immobilized assets but that option proved unworkable for now, above all due to resistance from Belgium, where the bulk of the assets is held.
"Today we approved a decision to provide 90 billion euros to Ukraine," EU summit chairman Antonio Costa told a press conference early on Friday morning after hours of talks among the leaders in Brussels. "As a matter of urgency, we will provide a loan backed by the European Union budget."
