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Von der Leyen urges EU countries to plug €135bn gap for Ukraine

Euronews · Just In
Euronews
Euronews
Just In

Von der Leyen sends a letter to member states calling for a fast agreement on how to fund Ukraine's enormous €135 billion budget hole for next year and 2027. EU leaders will meet for a make-or-break summit in December.

Breakdown
  • Ursula von der Leyen urged EU countries to devise a plan by December to bridge Ukraine's €135 billion financing gap.
  • The European Commission president outlined three funding options: bilateral contributions, joint debt, and reparations loans based on frozen Russian assets. 19s
  • Bilateral contributions would total €90 billion as non-repayable grants, while reparations loans would only be repaid by Kyiv after Moscow compensates for damages. 28s
  • Belgium has opposed reparations loans based on Russian assets held at Euroclear due to potential legal ramifications. 56s
  • Recent talks between von der Leyen and Belgian Prime Minister Bart De Wever have made limited progress. 1m 9s
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