Russia has branded the EU’s 90 billion-euro ($105.46 billion) loan decision to Ukraine a “major blow” for the bloc, even as President Volodymyr Zelenskyy hailed it as a move that “truly strengthens” Ukraine’s defence.
EU leaders decided on Friday to borrow cash to fund Ukraine's defence against Russia for the next two years rather than use frozen Russian assets, sidestepping divisions over an unprecedented plan to finance Kiev with Russian sovereign cash.
Moscow has framed the decision as a legal and political victory, while Kiev has welcomed the financing as a crucial guarantee for its defence and budget stability.
Kirill Dmitriev, Russian President Vladimir Putin's special envoy for investment and economic cooperation, said that "law and sanity" won.
"Major BLOW to EU warmongers led by failed Ursula — voices of reason in the EU BLOCKED the ILLEGAL use of Russian reserves to fund Ukraine," Dmitriev said on X, referring to European Commission President Ursula von der Leyen.
Meanwhile, Zelenskyy thanked the EU for its loan to plug the country's looming budget shortfalls, saying it "truly strengthens" Kiev's defence.
"This is significant support that truly strengthens our resilience," Zelenskyy said on X.
"It is important that Russian assets remain immobilised and that Ukraine has received a financial security guarantee for the coming years," he added.
The stakes for finding money for Kiev were high because without the EU's financial help, Ukraine would run out of money in the second quarter of next year.
The EU decision delivers a critical financial lifeline as US President Donald Trump presses for a rapid diplomatic settlement to the nearly four-year war between Russia and Ukraine.
