A loan of up to EUR 40 billion is being prepared by the (EU) to , within 2024, without US participation, according to a Financial Times report, while the effort to exploit Russian assets to help Kiev has failed. The decision comes amid concerns in Brussels that Hungary will prevent the EU from giving the guarantees needed by the US to participate in the Russian asset freeze plan, according to the same report. Victor Orban’s government, the most liberal EU leader, sought to delay the adoption of a decision on Russia’s asset freeze plan until the US presidential election on November 5. However, Brussels must begin the process of finding any alternative solution within the next few weeks, as the term of office of the current institutions ends at the end of the year. Funds are intended to help Ukraine’s financial stability, which faces a $38 billion financial gap in 2025, according to Kiev and the IMF. The country is based on foreign aid to continue operating, as Russia is intensifying attacks on its infrastructure.
EU: Plans to provide a loan of up to EUR 40 billion to Ukraine without the US
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