EU Takes Financial Lead in Ukraine Support Amid US Uncertainty

As the war in Ukraine intensifies, the European Union is preparing a significant financial aid package worth up to 35 billion euros to support Ukraine, even without US backing. This move aims to fill a critical funding gap and bolster Ukraine's defense and reconstruction efforts.

As the war in Ukraine intensifies, the European Union is stepping up to shoulder a significant financial burden, potentially without the backing of the United States. EU envoys in Brussels are drafting a proposal for a loan package worth up to 35 billion euros, as announced by European Commission President Ursula von der Leyen during her visit to Kyiv.

The loan, intended for Ukraine's national budget, provides needed fiscal flexibility for President Volodymyr Zelenskyy to buy weapons, construct bomb shelters, and rebuild the country's energy network ahead of winter. This EU initiative comes as Russian forces advance in the east, raising the stakes for Ukraine's defense.

Amid looming US elections and uncertainties, the EU hopes to show leadership, encouraging other allies to contribute. Differences over the duration of a Russian asset freeze and upcoming discussions at an EU summit highlight the pressing nature of the situation.

(With inputs from agencies.)