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

Brussels: 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 neighbourhood 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 35 billion euros (USD 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.”