The European Union will agree in principle to provide Ukraine with the financing it needs for the next two years, EU Council chief Antonio Costa said.
Arriving at a summit of EU leaders in Brussels, Belgian Prime Minister Bart De Wever laid out three demands for the use of Russian immobilised assets to provide a 140 billion euro ($163.27 billion) loan to Ukraine.
"If demands are met, we can go forward. If not I will do everything in my power at the European level, also at the national level, politically and legally to stop this decision," said De Wever.
BELGIUM DEMANDS SHARING OF RISK
De Wever called on all EU members to share the risks associated with the plan, meaning they would share the costs of any legal action pursued by Russia and contribute financially if the money ever had to be paid back.
He also said Russian frozen assets held by other countries should be part of the scheme.
"There must be transparency about the risk. There must be transparency about the legal basis for this decision," he said.
But Costa, arriving at the summit with Ukrainian President Volodymyr Zelenskyy, made clear the EU would ensure Kyiv's financial needs were covered for the next two years, with technical details to be decided later.
"We will take the political decision to ensure the financial needs of Ukraine for 2026 and 2027, including for the acquisition of military equipment," said Costa, who chairs summits of EU leaders.
The leaders are expected to task the European Commission to come up with a formal legal proposal on the frozen assets plan.
SANCTIONS PACKAGE FORMALLY APPROVED
At the summit, leaders of the European Union will also reiterate backing for Ukraine's territorial integrity.
Ukraine's leader also received a boost in the form of a new package of EU sanctions against Russia which the bloc formally approved on Thursday.
The package includes a ban on Russian liquefied natural gas from January 2027, as well as new measures on the so-called shadow tanker fleet and two independent Chinese oil refineries.
The planned summit was later put on hold and on Wednesday, the U.S. hit Russia's major oil companies with sanctions.
Kazakhstan has significantly expanded its international air connectivity last year, reopening and launching flights to 30 countries according to data ...
The death toll from the collapse of two residential buildings in the northern Lebanese city of Tripoli has risen to 15, state media said on Monday, as...
U.S. Vice President JD Vance will travel to Italy, Armenia and Azerbaijan from 9–11 February, accompanied by Under Secretary for Economic Affairs Ja...
Iran’s atomic energy chief says Tehran could dilute uranium enriched to 60 per cent if all international sanctions are lifted, stressing that techni...
NATO member Türkiye has dispatched several military aircraft to Germany, along with roughly 2,000 troops, to take part in the Western alliance’s la...
The speaker of Georgia’s parliament, Shalva Papuashvili, has questioned the European Union’s ability to act as a global geopolitical power, saying it no longer functions as a guarantor of international order.
Poland has asked the European Commission to investigate TikTok after artificial intelligence-generated content calling for the country to leave the European Union appeared on the platform, which Warsaw says was likely Russian disinformation.
As the European Commission warns of possible visa suspension, Georgian authorities reject accusations of democratic backsliding. What is really at stake — and who could be affected most?
Ukraine has welcomed the European Union’s decision to provide €90 billion in support over the next two years, calling it a vital lifeline even as the bloc failed to reach agreement on using frozen Russian assets to finance the aid.
U.S. President Donald Trump has criticised American freestyle skier Hunter Hess after the athlete said he felt conflicted about representing the United States at the Winter Olympics in Italy, sparking a public clash that highlights growing political tensions surrounding the Games.
U.S. skiing great Lindsey Vonn underwent surgery in an Italian hospital on Sunday after her attempt to win Olympic downhill gold ended in a violent crash just seconds into the race at the Milano Cortina Winter Games.
A Japanese city near Mount Fuji has cancelled its annual cherry blossom festival, saying growing numbers of badly behaved tourists are disrupting daily life for residents.
Several avalanches struck northern Italy on Saturday, killing at least three people, as rescue officials warned the death toll could rise with unstable conditions persisting across the Alps.
U.S. President Donald Trump’s Middle East envoy Steve Witkoff and Trump’s son-in-law Jared Kushner visited the USS Abraham Lincoln aircraft carrier in the Arabian Sea on Saturday after completing a round of talks with Iran.
Japan’s snap election has delivered a landslide victory for Sanae Takaichi, giving her a strong mandate to advance fiscal expansion and defence reforms. But, analysts warn that inflation risks and funding challenges could complicate her agenda.
Australia’s move to ban social media access for children under 16 has intensified a global debate, as governments across Europe and beyond weigh tougher rules amid growing concerns over mental health, safety and screen addiction.
The UK has pledged to step up engagement with Beijing after Hong Kong media tycoon and British citizen Jimmy Lai was sentenced to 20 years in prison, with the case resurfacing as a key issue following Prime Minister Keir Starmer’s recent trip to Beijing.
Venezuelan authorities said they were seeking court approval to put prominent opposition politician Juan Pablo Guanipa under house arrest on Sunday, shortly after he was seized by armed men in Caracas in what his son called a kidnapping.
Hong Kong’s most prominent media tycoon Jimmy Lai was sentenced on Monday (9 February) to a total of 20 years in prison on national security charges. The verdict covers two counts of conspiracy to collude with foreign forces and one count related to publishing seditious materials.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment