European Parliament approves loan to Ukraine from frozen Russian assets

The European Parliament adopted a resolution to establish a mechanism for credit cooperation with Ukraine and provide exceptional macro-financial assistance. As a result, the country will receive 35 billion euros as part of G7 initiatives, with the funds to be repaid from Russia's frozen assets.

This was reported by Ukrinform on Tuesday, October 22.

Loan for Ukraine from frozen assets of the Russian Federation

This mechanism will help Ukraine repay up to €45 billion in loans provided by the EU and G7 partners, using future profits from Russia's frozen assets.

In the first reading, the decision was supported by 518 deputies, with 56 voting against and 61 abstaining.

As a reminder, on October 21, U.S. Secretary of Defense Lloyd Austin announced a new $400 million military aid package for Ukraine.

Additionally, France will transfer 12 more Caesar self-propelled artillery systems to Ukraine, which will be purchased using interest from Russia's frozen assets.