The European Union will give a loan of 35 billion euros to Ukraine. What will they do?

by time news

2024-09-20 16:54:57

Ukraine will have to return it within 40 years.

At a joint press conference with the President of Ukraine on Friday von der Leyen He said the allocation of the large loan is another step in meeting the Group of Seven’s obligations regarding long-term support from Ukraine.

The commitments announced by the leadership of the G7 countries at the NATO summit in Vilnius in July include military aid and assistance in the reconstruction of the country during and after the war.

Vladimir Zelensky in response, he said that the received funds will be invested mainly in the support of the energy sector, the construction of storage facilities and other infrastructure to protect the civilian population, as well as in the development of the Ukrainian defense industry. He also mentioned the plans of the Ukrainian leadership regarding the purchase of new Western weapons, mainly anti-aircraft defense.

The Financial Times clarifies that what is mentioned is the income EZ receives from the assets of the Central Bank of the Russian Federation in Europe, which were frozen after the Russian invasion of Ukraine. Currently, the EC has frozen assets of Russian state structures worth around 200 billion euros. The legal mechanism that would allow them to be confiscated has not yet been developed, but the EZ accepts and transfers the income from them to the needs of Ukraine.

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