The European Union will borrow money for a 90 billion euro ($105 billion) loan to Ukraine to fund the country’s defense over the next two years, rather than use frozen Russian assets, the 27-nation bloc said on Dec. 19.
Member states also gave consent for the European Commission, the bloc’s executive arm, to keep working on a so-called reparations loan based on Moscow’s immobilized assets, but were unable to get that scheme off the ground for now due to objections from several countries.
