Overview
- Ursula von der Leyen has circulated a formal proposal outlining grants from member states, common EU borrowing, and a loan structure leveraging frozen Russian sovereign assets.
- The Commission says the three channels can run in parallel as a temporary bridge until the next EU budget framework for 2028–2034 takes effect.
- Brussels now pegs Ukraine’s external financing needs for 2026–2027 at more than €70 billion, according to the document shared with capitals.
- The letter asks EU leaders to take a decision at the December European Council, with first disbursements targeted no later than the second quarter of 2026.
- RIA reports that roughly €140 billion in Russian sovereign assets are referenced for the loan concept, while Belgium has not given consent and Moscow condemns such use.