Part 7/11:
Turning to Eastern Europe, the European Union has announced an unprecedented aid package for Ukraine, amounting to approximately $39 billion. This loan, unveiled by EU Commission President Ursula von der Leyen during her visit to Kyiv, comes at a pivotal moment as Ukrainian forces continue facing Russian military pressure in the eastern Donbas region and the southern Kherson area.
The innovative aspect of this funding is that it will be financed using frozen Russian assets—around $300 billion held in European accounts since Russia’s invasion in 2022. These assets, sequestered by European nations, will fund the loan instead of direct financial contributions from member states, aiming to bolster Ukraine’s military and energy infrastructure.