The approval of the loan was the final stage in the process of its arrangement. In December 2025, the leaders of the European Union (EU) countries agreed to provide an interest-free loan to Ukraine. The financing will be carried out through borrowings on capital markets on behalf of the EU, and the EU budget will assume the obligations for the loan, abandoning the initial idea of using Russian assets. The repayment of the loan will depend on Russia's payment of reparations to Ukraine. The funds will be divided into two parts: €60 billion is intended for military needs, while €30 billion will go towards Ukraine's budgetary expenses. The first tranche is expected to be sent to Kyiv at the beginning of the second quarter of 2026.
