2 h. ago EU’s Ukraine loan may have been Plan B, but don’t underestimate its significance to the bloc

This €90bn agreement won out over a plan to use frozen Russian assets, but has been hailed a ‘huge deal for the EU’The EU’s failure to agree a “reparations loan” to Ukraine backed by frozen Russian assets was a political blow to the bloc’s big beasts, but the last-gasp alternative it devised will do the job – and marks a potentially significant first.After a marathon 16 hours of talks, EU leaders early on Friday agreed to fund Ukraine, which risked running out of money by next April, with a much-needed €90bn (£79bn) loan. But the solution they came up with was not the one most had wanted. Continue reading...

Politics

2 h. ago Ukraine war live: Zelenskyy says EU’s €90bn loan is a ‘signal to Russians’ despite frozen assets not being part of deal

Ukrainian leader welcomes move and says it is critical Russian assets remain frozenEU leaders agree €90bn loan for Ukraine but without use of frozen Russian assetsIn his first comments on Ukraine, Putin swiftly blames Kyiv for the continuing war, saying “they are basically refusing to finish this conflict via peaceful means” (whatever that means from the literally invading party).But he says there are “some signals indicating they are willing to engage in some type of dialogue.” Continue reading...

Economics

3 h. ago Ukraine war live: Zelenskyy says EU’s €90bn loan is a ‘signal to Russians’

Ukrainian leader welcomes move and says it is critical Russian assets, which are not part of the deal, remain frozenEU leaders agree €90bn loan for Ukraine but without use of frozen Russian assetsIn his first comments on Ukraine, Putin swiftly blames Kyiv for the continuing war, saying “they are basically refusing to finish this conflict via peaceful means” (whatever that means from the literally invading party).But he says there are “some signals indicating they are willing to engage in some type of dialogue.” Continue reading...

Events

4 h. ago Vladimir Putin boasts EU failed its 'robbery' of handing frozen Russian assets to Ukraine because leaders fear 'grave consequences': Live updates

LIVEBLOG: Follow the latest developments as Vladimir Putin insists he is 'ready and willing' to discuss peace in Ukraine at his annual end of year press conference.

Politics

7 h. ago Why the EU could not agree on using £80bn of frozen Russian assets to fund Ukraine’s war effort

Disagreements within the bloc prevented a deal being struck to use the assets

Economics

8 h. ago EU leaders agree to lend Ukraine £79billion after deal to give them Russian frozen assets unravels

The massive interest-free loan will help Ukraine meet its military and economic needs for the next two years, leaders said after more than a day of talks at a summit in Brussels.

Economics

12 h. ago Ukraine deal: EU leaders agree €90bn loan, but without use of frozen Russian assets

Two-year deal will cover most of Ukraine’s needs, but will be secured against EU borrowing rather than Russian assetsEuropean Union leaders have decided to provide a massive interest-free loan to Ukraine to meet its military and economic needs for the next two years, after failing to agree on using frozen Russian assets, diplomats said in the early hours of Friday.“We have a deal. Decision to provide €90bn ($106bn) of support to Ukraine for 2026-27 approved. We committed, we delivered,” EU Council president Antonio Costa said in a post on social media. Continue reading...

Politics

13 h. ago EU agrees €90bn loan to Ukraine after frozen Russian asset plan fails

Money to be borrowed against bloc’s budget after leaders fail to agree on proposal using Moscow’s funds

Events

14 h. ago UK set to 'share risk' with the rest of the EU by leveraging capital from frozen Russian assets to help Ukraine

The development comes after Belgium said it would only back a loan for Ukraine if it receives assurances it will be shielded from Russian retaliation.

Events

23 h. ago Russia has few legal options to challenge EU frozen asset plan

A core question for European Union leaders discussing whether to use frozen Russian assets to help Ukraine is whether the idea is legally sound

Politics

24 h. ago Ukraine may need to cut drone production if no deal reached on frozen Russian assets, says Zelenskyy – Europe live

Ukrainian president says case for transfer of assets to fund war effort is ‘morally clear and just’ Germany’s chancellor Friedrich Merz confirms his support for the EU’s reparations loan, saying he sees “no better option.”He diplomatically acknowledges Belgium’s concerns, and says he hopes “we can address them together” to “send a signal of strength and resolve towards Russia.” Continue reading...

Economics

25 h. ago Polish independence could be under threat if Ukraine forced to capitulate, Donald Tusk warns – Europe live

Warning comes as EU leaders discuss sending frozen Russian assets to UkraineGermany’s chancellor Friedrich Merz confirms his support for the EU’s reparations loan, saying he sees “no better option.”He diplomatically acknowledges Belgium’s concerns, and says he hopes “we can address them together” to “send a signal of strength and resolve towards Russia.” Continue reading...

Events

26 h. ago Polish independence ‘under threat’ if EU cannot come to decision on giving Russian assets to Ukraine, says Poland’s Tusk – Europe live

Warning comes as EU leaders attempt to reduce the risks from Russian retaliation against Belgium, which holds most of the €210bn of frozen Russian assetsGermany’s chancellor Friedrich Merz confirms his support for the EU’s reparations loan, saying he sees “no better option.”He diplomatically acknowledges Belgium’s concerns, and says he hopes “we can address them together” to “send a signal of strength and resolve towards Russia.” Continue reading...

Events

27 h. ago Russia warns it will ‘recover damages’ as EU leaders begin debate on giving frozen assets to Ukraine – Europe live

Zelenskyy warns of ‘big problems for Ukraine’ if no deal reached to unlock €210bn in frozen Russian assetsGermany’s chancellor Friedrich Merz confirms his support for the EU’s reparations loan, saying he sees “no better option.”He diplomatically acknowledges Belgium’s concerns, and says he hopes “we can address them together” to “send a signal of strength and resolve towards Russia.” Continue reading...

Events

29 h. ago Why can’t the EU agree on using £80bn of frozen Russian assets for the Ukraine war?

Ukraine’s allies in Europe are trying to find support but there are disagreements within the bloc

Economics

30 h. ago EU told to choose between ‘money today or blood tomorrow’ as leaders debate giving Russian assets to Ukraine – Europe live

European leaders meet in Brussels as Poland’s Donald Tusk issues warning to fellow EU statesGermany’s chancellor Friedrich Merz confirms his support for the EU’s reparations loan, saying he sees “no better option.”He diplomatically acknowledges Belgium’s concerns, and says he hopes “we can address them together” to “send a signal of strength and resolve towards Russia.” Continue reading...

Politics

31 h. ago Putin hits Europe with his most feared weapon... his lawyers: EU bid to use frozen Russian assets could be scuppered as leaders fear they could be forced to pay the money back after the war

EU leaders are due to meet on Thursday for a crunch summit on plans to use frozen Russian assets to support Ukraine, with Belgium facing growing pressure to abandon its opposition.

Events

34 h. ago EU leaders urged to use frozen Russian assets to fund Ukraine’s defence

Pressure is growing on member states to back a €90bn loan for Kyiv ahead of a Brussels summitEuropean leaders are being urged to decide whether to use Russia’s frozen assets to fund Ukraine’s defence at a time of unprecedented pressure from the US.At a critical summit in Brussels on Thursday, EU leaders will be asked to make good on a promise to find urgently needed cash for Ukraine, with Kyiv under pressure to cede territory as Russia ekes out advances on the battlefield. Continue reading...

Politics

7 d. ago Belgian PM meets Starmer in London as debate continues on using frozen Russian assets for Ukraine – Europe live

Bart De Wever will also discuss migration, security and economy ahead of coalition of the willing meeting and EU summit next weekRussia’s central bank said it was suing the Belgium-based Euroclear financial group, which holds Moscow’s frozen international reserves, as the EU moves closer to using the funds to support Ukraine, AFP reported.The bank said it was filing “a lawsuit against Euroclear in the Moscow Arbitration Court” due to what it called “the illegal actions” of the institution. Continue reading...

Politics

7 d. ago EU prepares to use £185 BILLION of frozen Russian assets to fund huge loan to Ukraine

The move would allow EU leaders to work out at a summit next week how to use the tens of billions of euros in Russian Central Bank assets to underwrite a huge loan to help Ukraine in the war.

Economics