European Parliament Greenlights €90 Billion Aid for Ukraine Amid Prolonged Conflict

The European Parliament has sanctioned a €90 billion loan package to back Ukraine as the enduring war with Russia approaches its fifth year, marking a pivotal support effort by the EU. This decision, made during a Wednesday vote, includes three legislative proposals aiming to aid Ukraine financially over 2026 and 2027.

The package allocates €30 billion for macro-financial assistance and budgetary backing via the EU's Ukraine Facility, while an additional €60 billion is dedicated to enhancing Ukraine's defense capabilities. This includes military equipment procurement, ensuring swift access to vital defense products mainly from Ukrainian and EU industries.

Unique derogations permit sourcing defense materials from other nations if not readily available, according to the European Parliament's press release. The Commission will oversee financial assistance based on Ukraine's finance strategy, contingent on Council approval. The EU's long-term budget will underwrite the loan, with Ukraine expected to repay upon receiving war reparations from Russia.