Europe Moves Without USA - $39 Billion Loan Immediately To Ukraine Budget

28th September 2024

As Ukraine war enters a critical period, the EU moves ahead without the US.

As the war in Ukraine enters a critical period, the European Union has decided that it must take responsibility for what it sees as an existential threat to security in its own neighborhood and is preparing to tackle some of the financial burden, perhaps even without the United States.

EU envoys have been working in Brussels this week on a proposal to provide Ukraine with a hefty loan package worth up to $39 billion. It was announced by European Commission President Ursula von der Leyen during a trip to Kyiv last Friday.

"Crucially, this loan will flow straight into your national budget," she told President Volodymyr Zelenskyy. "It will provide you with significant and much-needed fiscal space. You will decide how best to use the funds, giving you maximum flexibility to meet your needs."

Zelenskyy wants to buy weapons and bomb shelters and rebuild Ukraine's shattered energy network as winter draws near.

In international matters, particularly involving major conflicts, the EU rarely moves ahead without the U.S., but it hopes this decision will encourage others to come forward.

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