The countries of the European Union have announced that they have agreed to give Ukraine a loan worth 35 billion euros, financed by the profits obtained from the sale of Russian assets seized in Europe.
The Council of the EU, a body representing member states, "reached an agreement on providing financial assistance to Ukraine," the announcement states.
A loan in the amount of up to 35 billion euros must be approved by the European Parliament, but 27 EU countries resorted to an accelerated procedure that should enable the first payments as early as the beginning of 2025.
Russian assets worth more than 200 billion euros were frozen in the EU after Russia invaded Ukraine with its army in February 2022, occupying about 17 percent of its territory.
About 90 percent of the frozen assets are in Belgium.
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