Zelensky: EU Approval of Ukraine Loan a Great Victory
Zelensky described the EU's approval to fund Ukraine as a great victory.
SUMMARY
Ukrainian President Volodymyr Zelensky describes the EU's approval of a 90 billion euro loan to Ukraine as a great victory, noting that the funding signals to Russia that continuing the war is futile. The agreement includes using frozen Russian assets to repay the loan if Moscow does not pay compensation.
KEY HIGHLIGHTS
- Ukrainian President describes EU funding approval as a great victory.
- EU approves a 90 billion euro loan to Ukraine.
- Frozen Russian assets will be used to repay the loan if Moscow does not pay compensation.
CORE SUBJECT
European Union funding for Ukraine
Ukrainian President Volodymyr Zelensky described the European Union's approval to increase funding for his country as a "great victory" today, Friday.
Zelensky said in Warsaw, after meeting with Polish President Karol Nawrocki, that the approval of this funding is positive news for the Ukrainian people and at the same time a signal to Russia that continuing the war is futile.
After months of discussion and debate, EU leaders reached a compromise last night regarding funding Ukraine over the next two years.
Under the agreement, Ukraine will receive a loan worth 90 billion euros (105.5 billion dollars).
If Moscow does not pay compensation for the damages caused by the war, the frozen Russian assets will be used to repay the loan.
KEYWORDS
MENTIONED ENTITIES 4
Volodymyr Zelensky
👤 Person_MaleUkrainian President
European Union
🏛️ OrganizationPolitical and economic union of European countries
Karol Nawrocki
👤 Person_MalePolish President
Moscow
📍 Location_CityCapital of Russia