KYIV: EU chief Ursula von der Leyen announced on Friday plans for Brussels to lend Ukraine €35 billion, supported by revenues from frozen Russian assets.
Speaking in Kyiv amid ongoing concerns about the country’s energy infrastructure ahead of a third winter of war with Russia, von der Leyen promised to help Ukraine “keep warm.”
The International Energy Agency has warned that this winter poses Ukraine’s “sternest test” yet, with expectations of renewed bombing campaigns targeting its already damaged energy grid. Von der Leyen’s visit coincided with President Volodymyr Zelensky’s upcoming trip to the United States to present his plans for ending the war.
“The European Union is here to support you in this challenge—to keep the lights on, keep your people warm, and sustain your economy as you fight for survival,” von der Leyen stated alongside Zelensky. She said that the loan would be expedited and backed by windfall profits from immobilized Russian assets.
Desperate for funds to stabilize its economy and maintain electricity, Ukraine is eyeing this EU proposal, part of a larger G7 agreement from June to use frozen Russian assets to provide $50 billion in loans to Kyiv. Since the Kremlin’s invasion in 2022, the EU has frozen around $235 billion of Russian central bank funds, making up the bulk of immobilized assets worldwide.
Von der Leyen also pledged assistance in repairing damage caused by Russian strikes on Ukraine’s energy infrastructure, aiming to restore 2.5 gigawatts of capacity this winter—approximately 15% of the country’s energy needs.
Zelensky expressed hope that US President Joe Biden would support his “victory plan” to end the conflict, which has claimed thousands of lives. He plans to present this strategy in the coming days, emphasizing the need for decisions between October and December to ensure its success.
The Ukrainian leader is also set to meet with Biden and Vice President Kamala Harris, as well as former President Donald Trump, during his US visit. Additionally, Zelensky aims to host an international peace summit in November, inviting Russia to discuss his vision for ending the war.
In Pokrovsk, a city that once housed 60,000 residents, the atmosphere is grim. AFP reported deserted streets, with many shops closed and windows barricaded. Russian forces are now just 10 kilometers away, intensifying efforts to capture the city. While evacuations have been underway, around 16,000 people remain, many facing difficult decisions about leaving.
“I don’t even have the words to explain how difficult it is,” said Alyona Kozynets as she prepared to evacuate with her three children, tears streaming down her face. Her husband, Yuri, planned to stay behind to work at the mine. “She and the children are my life. It’s impossible to live without them,” he said, as the bus carrying them away departed.
