EU pledges financial aid to Ukraine but demurs on Russian assets plan

24/10/2025 7:15

EU leaders agreed on Thursday to meet Ukraine's pressing financial needs for the next two years but stopped short of explicitly endorsing the use of Russian frozen assets to give Kyiv a large loan, after concerns were raised by Belgium.



"The European Council commits to address Ukraine's pressing financial needs for 2026-2027, including for its military and defence efforts," said a text agreed upon at a summit in Brussels by all leaders of EU countries except Hungary.



The text, seen by Reuters ahead of its official publication, asked the European Commission to present as soon as possible "options for financial support based on an assessment of Ukraine's financing needs".



The text also said that, subject to EU law, "Russia's assets should remain immobilised until Russia ceases its war of aggression against Ukraine and compensates it for the damage caused by its war".