European Commission ready to fund EUR 11B for Ukraine under G7 loan initiative

This was announced by European Commission President Ursula von der Leyen during a press conference in Brussels on Friday night following the European Council meeting, according to a Ukrinform correspondent.

“We discussed Ukraine. President Zelensky joined us via video conference. We agreed to maintain our financial support for Ukraine on all fronts — militarily, economically, and politically. Militarily, we recently allocated EUR 1 billion for Ukraine’s defense industry through the windfall profits from the frozen Russian assets. We are on track to reach a target of 2 million rounds of artillery for Ukraine in 2025. And we are ready to fund a lot of remaining EUR 11 billion of G7 loans because we know how important it is now for Ukraine to ask for this money,” she said.

Politically, she noted, the EU continues to put pressure on Russia to bring it to serious negotiations, starting with a genuine ceasefire. The 18th EU sanctions package, proposed by the European Commission, is aimed precisely at this. She expressed confidence that the EU will be able to approve the new sanctions package soon.

“At the same time, we are also accompanying Ukraine on its EU path. Under relentless fire, Ukraine is passing reform after reform – it’s impressive. And this is why the Commission defends the opening of the first cluster of negotiation. Ukraine has delivered, now we must too. Because the accession process is based on merit, and Ukraine merits moving forward,” von der Leyen stressed.

As reported, a meeting of EU heads of state and government took place in Brussels in the format of the European Council, where further economic and military support for Ukraine was among the key issues discussed.

In the meeting’s final statement, European leaders reaffirmed their unwavering support for Ukraine’s independence, sovereignty, and territorial integrity within its internationally recognized borders.