Ukraine urges EU to approve $163 billion loan from frozen Russian assets as budget gap looms
Ukraine is pushing European allies to agree next month on a proposed $163-billion loan backed by frozen Russian state assets to avert a major 2026 bud...
Luxembourg announced an additional €21 million in support for Ukraine, comprising €10 million for the energy sector, €10 million in military assistance, and €1 million for the Olena Zelenska Foundation.
Deputy Prime Minister, Minister for Foreign Affairs and Foreign Trade, Minister for Development Cooperation and Humanitarian Affairs, Xavier Bettel, together with the Minister of Defence, Yuriko Backes, undertook a working visit to Ukraine.
In Kyiv, the ministers held talks with President Volodymyr Zelenskyy, Prime Minister Denys Shmyhal, Minister for Foreign Affairs Andrii Sybiha, Minister of Defence Rustem Umerov, and First Lady Olena Zelenska.
During the meetings, the ministers reaffirmed Luxembourg’s unwavering support for Ukraine in its defense against Russian aggression—through military, political, humanitarian, and reconstruction assistance .The ministers reiterated their firm commitment to Ukraine's sovereignty and territorial integrity, and expressed strong backing for a just and lasting peace, based on Ukraine’s own terms.
The delegation also visited a drone manufacturing facility, where they were briefed on advanced Ukrainian technologies and the capabilities of UAV production. The parties discussed strengthening Ukraine's defense capabilities and investments in Ukrainian arms production.
Ukrainian Minister of Foreign Affairs Andrii Sybiha expressed gratitude to Luxembourg and both ministers for the decision to allocate €10 million to the Ukraine Energy Support Fund and additional €10 million to support the defense sector, announced during this visit.

"We held substantive talks on Luxembourg’s comprehensive assistance to Ukraine in defense, humanitarian, and financial dimensions, as well as further pressure on the aggressor. These contributions are timely and well-appreciated steps," - said Sybiha on X, appreciating Luxembourg for implementing over 40 impactful recovery projects in Kryvyi Rih. "We discussed the prospects of expanding Luxembourg’s role in recovery to other regions, possibly the Kharkiv region."
The funds from the energy fund will be directed to critical needs, from the purchase of equipment and fuel to the modernization of energy infrastructure, the Minister added.
Yuriko Backes recalled that Luxembourg had provided significant support to Ukraine's defense sector during the war with Russia.
“This year, on my recommendation, a portion of the budget was particularly allocated for aid, humanitarian aid for Ukraine - amounting to 80 million euros. And I'm pleased to announce that we now also have an additional 10 million for the defense sector,” added Backes.
Luxembourg's military support for Ukraine exceeded €250 million.
"We are grateful for a new step in helping Ukraine – €1 million for a project on psychosocial support for adolescents and youth. This is not only help, but also an investment in Ukraine's future. I am sincerely grateful to Luxembourg for their trust, solidarity and true partnership," - Ukraine's First Lady Olena Zelenska posted on X.

Thousands of users in the United States, some parts of Europe and South America on the X (formerly twitter) platform have reported being unable to access the site due to Cloudflare outage.
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The Kremlin stated on Monday that it hoped another summit between Russian President Vladimir Putin and U.S. President Donald Trump could take place once the necessary preparations had been completed.
Ukraine is pushing European allies to agree next month on a proposed $163-billion loan backed by frozen Russian state assets to avert a major 2026 budget shortfall, Reuters reported.
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