The European Union is extending Ukraine a €90 billion loan to support it in 2026-2027, European Council President Antonio Costa said. According to him, the EU intends “to continue for as long as it takes, and at any cost,” underscoring its readiness to sustain financial support for Kyiv.
The central issue, however, is not the financing itself but how it will be repaid. Brussels is explicitly saying that it expects this loan to be covered by future reparations from Russia. A Council of the EU statement says the funds will be raised through borrowing on capital markets and backed by the bloc’s budget reserves, but repayment is to be made from “reparations due to Ukraine from Russia.”
The statement also notes that the funding will help strengthen both the European and Ukrainian defense industries.