EU Moves to Support Ukraine with $39 Billion Loan Amid US Election Uncertainty

With the war in Ukraine reaching a critical phase, the European Union is stepping up its financial aid efforts as US political dynamics create unpredictability.

The EU has proposed a loan package of up to 35 billion euros ($39 billion) for Ukraine, aimed at providing significant fiscal space for the country's budget.
This move comes as the EU decides to take more responsibility for regional security, potentially without the usual backing of the United States.
The initiative is part of a broader G7 plan to utilize interest from frozen Russian assets, although differences over the duration of the asset freeze have led the EU to act independently.
Political uncertainty in the US, with a close election looming between Donald Trump and Kamala Harris, has made the EU wary of future American support.
Despite the challenges, the EU has already provided Ukraine with about $132 billion since the invasion began and is preparing to offer more economic aid, while the US continues to send military assistance.