Dec. 20 (UPI) -- Officials for the European Union have agreed to loan $105 billon to Ukraine to help it stay financially solvent over the next two years amid Russian attacks in the Odesa region.
The money is in lieu of an allocation to Ukraine from frozen Russian assets equal to nearly $246 billion and being held in Belgium, the BBC reported.
The funds are equal to about two-thirds of the amount that Ukraine will need to pay its bills and give it a stronger bargaining position as peace talks continue with the aim of ending the Ukraine War that started when Russia invaded its neighbor on Feb. 24, 2022, according to The New York Times.
Ukrainian President Volodymyr Zelensky said the loan is interest-free and only would be repaid if Russia were required to pay reparations to Ukraine.
The allocation of €90 billion by Europe, which in any case is linked to Russian assets, is an unprecedented decision, and it will also have an impact on the peace negotiations. Ukraine will be in a stronger position.
