Europe to loanUkraine$105 billion to continue the fight against Russia

WASHINGTON — Europe plans to send $105 billion in a loan to keep Ukraine in the fight for another two years against Russia, as peace talks continue with the United States.The deal, struck after marathon talks in Brussels, will funnel needed cash to Kyiv through a loan backed by the European Union’s own budget.“This will address the urgent financial needs of Ukraine,” European Council President Antonio Costa told reporters on Friday.

But leaders failed to clinch their preferred option: using billions in immobilized Russian state assets as collateral, a plan that blew up at the 11th hour.Still, the cash flow comes at a critical moment, as Ukraine is negotiating potential peace terms with the United States and may start running out of money in early 2026 without outside help, Ukrainians have warned.Keeping Kyiv afloat with military aid will become only more necessary if Russian dictator Vladimir Putin follows through on his threats this week to keep up his war, despite US negotiators’ intensive efforts to secure a workable peace plan.US officials have largely avoided specifics on what would happen if Russia doesn’t bend to the American plan to end the war, instead focusing on pushing forward with the peace process over more marathon talks with Ukrainian and Russian negotiators this weekend.President Volodymyr Zelensky welcomed Europe’s decision to offer the loan, calling it a lifeline.“This is significant support that truly strengthens our resilience,” Zelensky wrote on X.“It is important that Russian assets remain immobilized and that Ukraine has received a financial security guarantee for the coming years.”Ukraine is expected to use at least parts of the funds to purchase weapons from the US — something Republican senators this week said is needed to boost the American defense industry.“Years of chronic underinvestment and requires an influx of new investment to scale up production to meet US defense needs,” lawmakers wrote to President...