Russian President Vladimir Putin reacted to the European Union's massive $108 billion loan to fund Ukraine's war against Russia.

Kyiv

The European Union has provided Ukraine with a loan of more than $100 billion to bolster its defense against Russia. This financial support comes as Russian President Vladimir Putin, during his annual press conference, expressed confidence in achieving the Kremlin's goals in Ukraine.

EU leaders initially considered using frozen Russian assets to fund the package but ultimately decided to secure the loan against their own budget. Putin responded to the EU's decision by threatening severe consequences and reiterated his willingness to negotiate an end to the war, but only on his terms.

European Union loans Ukraine billions as Putin boasts about war

Breaking news overnight, Ukraine has secured a more than $100 billion loan from the European Union to help continue its fight against Russia. It comes as Russian President Vladimir Putin boasted about his war at his annual press conference. Eliat reports the new loan comes at a crucial time. The enemy is retreating in all sectors. In his annual marathon press conference, Vladimir Putin sounded confident as ever. Four years into the war, vowing to achieve all of the Kremlin's goals in Ukraine. And as Ukraine's military continues to be bogged down by Russian offenses, overnight the European Union stepped up with a support package worth more than $100 billion. EU leaders initially wanted to finance that package using frozen Russian assets, but ended up taking out a loan against their own EU budget, possibly anticipating the reaction from Putin, who this morning threatened severe consequences. If Europe had walked away today without an agreement, we would not only have failed Ukraine, we would have failed ourselves. Putin says he's open to a deal to end the war with Ukraine, but only on his terms. For CBS Mornings, I'm Haley Ott in London.

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