Ukraine pushes for EU decision on frozen assets next

AWANI

Ukraine is urging European allies to approve a $163-billion loan drawn from frozen Russian state assets as Kyiv confronts a deepening 2026 budget shortfall and the fallout of a widening corruption scandal.

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00:00Ukraine is urging European allies to approve a proposed $163 billion loan from frozen Russian state assets when leaders meet next month.

00:10Kiev is in need of substantial financial support as it faces a deepening 2026 budget shortfall and fallout from a widening corruption scandal.

00:19With little prospect of direct U.S. aid under President Donald Trump, Ukraine could run out of money in the first quarter of next year.

00:31Kiev is also facing a political crisis after a $100 million energy sector corruption scandal sparked calls to dismiss the entire cabinet.

00:39EU leaders failed to reach agreement on the so-called reparation loan at their last summit and will revisit the issue on December 18th.

00:47Although they agreed to meet Ukraine's near-term financing needs, they stopped short of backing the frozen assets plan due to Belgian objections.

00:57The European Commission estimates Ukraine will need about $157 billion between 2026 and 2027.

01:06The proposed use of frozen Russian assets would raise about €140 billion, enough to cover those needs.

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