European Union leaders have finalised a major new financial support package worth €90 billion (approximately £78.8 billion) for Ukraine. The agreement, reached on Friday 19 December 2025, provides an interest-free loan aimed at bolstering Ukraine's military and economic resilience over the coming two years.
Zelensky Welcomes "Significant" Investment
Ukrainian President Volodymyr Zelensky expressed gratitude for the deal, describing the EU's backing as a "significant" investment that will strengthen his nation's financial security and overall fortitude. In a statement, Zelensky emphasised the broader strategic importance, warning that "We should be afraid of Europe being weak."
Key Omission and UK's Role in Unlocking Assets
The landmark deal notably avoids the direct use of frozen Russian state assets to fund the loan, a point of significant diplomatic and legal sensitivity. To secure the agreement, EU leaders provided reassurances to Belgium, which had expressed concerns over potential retaliation from Moscow.
Concurrently, the UK government has indicated its willingness to share the risk involved in efforts to unlock frozen Russian assets for Ukraine's benefit. This move is seen as a crucial step to pave the way for utilising these funds.
Pressure on Chelsea Sale Funds
In a related development, UK Defence Minister Luke Pollard has publicly urged Russian oligarch Roman Abramovich to release £2.5 billion from the sale of Chelsea Football Club. The funds, which have been frozen in a UK bank account since the club's 2022 sale, are under renewed political pressure to be directed towards supporting Ukraine.
The combined EU financial package and ongoing international efforts to redirect frozen assets represent a coordinated attempt to provide Ukraine with long-term stability as it continues to defend itself.
