The President of the EC, Ursula von der Leyen, announced the allocation of a €35B loan to Ukraine on September 20. This loan is part of a $50B loan announced by the G7 countries and guaranteed by profits from frozen Russian assets. Ukraine does not have to repay the loan because the future profits from the frozen sovereign Russian assets will be used to repay the money.
According to Von der Leyen, this loan will arrive very quickly (probably by the end of the year) and be sent directly to Ukraine’s state budget. The funds will be used for energy issues, the construction of shelters, and the purchase of Ukrainian-made weapons (long-range drones and missiles). Ukraine will spend a portion of the funds on air defense equipment it will purchase from other countries.
The President of the EC also reminded observers that at least €2B has been provided in the form of financial aid and equipment from member states to support Ukraine’s energy security.
As for negotiations on joining the EU, according to the EC President, the actual opening of negotiations should begin with the most crucial cluster, fundamental spheres.