EU leaders hail agreement on $105B Ukraine loan

ISTANBUL

EU leaders on Friday welcomed an agreement on a €90 billion (about $105 billion) joint loan to support Ukraine over 2026–27, hailing the deal as a critical financial lifeline.

Lithuanian President Gitanas Nauseda said the agreement met Ukraine's immediate funding needs while leaving the door open for further action. "The European Union has found a way to finance Ukraine with €90 billion in 2026-27," he told Lithuanian National Radio and Television (LRT).

“If additional funding is needed, the European Union is ready to look for solutions, and those solutions will be found.”

Spanish Prime Minister Pedro Sanchez said the loan would be provided “urgently and immediately” through joint EU borrowing, arguing that Europe must support Ukraine “for moral reasons, justice and international legality.”

Polish Prime Minister Donald Tusk said Europe had moved forward despite internal hesitation.

“Despite excessive caution of some leaders, Europe took the decision to finance Ukraine,” he said on US social media company X, adding that the option of using immobilized Russian assets “is still on.”

Belgium’s Foreign Minister Maxime Prevot described the agreement as a strong signal to Kyiv, Moscow, and the wider world, saying it showed that “the EU stands by its allies,” while ensuring a solution that is “legally robust and financially safe.”

He stressed that Russian assets must remain frozen until Moscow ends its war and compensates Ukraine.

Estonian Foreign Minister Margus Tsahkna said the loan would strengthen Ukraine’s position “both on the battlefield and at the negotiating table,” adding that Russia’s frozen assets should remain available to repay the loan if needed.

However, Hungary’s Prime Minister Viktor Orban criticized the decision, saying Budapest, along with Slovakia and the Czech Republic, opted out of guaranteeing the loan.

He warned that if Ukraine is unable to repay it, participating countries would shoulder the cost.

"Thankfully, the V3 cooperation is active once again: Hungary, Slovakia, and the Czech Republic have decided not to get on that train. By doing so, we spared our children and grandchildren from the burden of this massive €90 billion loan," he added.

Czech Prime Minister Andrej Babis also welcomed the outcome, saying he had ensured the Czech Republic would not guarantee the loan.

“We agreed on further support for Ukraine in the form of a loan… and I pushed through that the Czech Republic will not be liable for the loan. Exactly as I promised,” he said.

The remarks came after EU leaders agreed at the European Council, following weeks of intense negotiations, to finance Ukraine through borrowing on capital markets for 2026 and 2027.

European Commission President Ursula von der Leyen said the deal was reached after member states failed to agree on directly using frozen Russian assets to support Kyiv.