The European Commission announced that the European Union (EU) and partners from the Group of Seven (G7) have reached a consensus allowing Ukraine to repay loans with revenues generated from frozen Russian assets.
In a statement published on the EU’s website, the Commission said, “The Commission welcomes the consensus reached by the EU and G7 partners to jointly secure 45 billion euros in loans to support Ukraine’s urgent budgetary, military, and reconstruction needs.”
The Commission noted that “these loans will be serviced and repaid through future extraordinary revenue streams derived from the blocked assets of Russia’s Central Bank.”
“This achievement highlights the unwavering commitment of the EU and its G7 partners to support Ukraine in its fight for freedom, recovery, and reconstruction,” the statement concluded.
