The EU summit in Brussels on Thursday and Friday reached no decision on new demands for billions in aid to Ukraine, and the Commission was tasked with developing financing options. Zelensky put Ukraine's 2027 war costs at €155 billion and sought at least €70 billion in additional European support, while the EU has already set in motion a €90 billion loan for 2026 and 2027. European Commission President Ursula von der Leyen said preparations were under way for a 22nd sanctions package against Russia. The dispute with Washington also involves about €210 billion in frozen Russian central bank assets in Europe, and Chancellor Friedrich Merz rejected using part of these assets in talks with Moscow. Citing a Kiel Institute study, the article says the German government's Ukraine support, including commitments, is around €100 billion, and argues these moves amount to a dangerous escalation.
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Original headline: EU summit in Brussels : European powers intensify war drive against Russia
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| Market | Gold |
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- EU summit in Brussels : European powers intensify war drive against Russia
The EU summit in Brussels showed European governments, led by Berlin, pushing to continue and expand support for Ukraine while Washington seeks some accommodation with Russia. Commission President von der Leyen announced preparations for a 22nd sanctions package, and Chancellor Merz rejected a US idea to use about €210 billion of frozen Russian central bank assets in talks with Moscow. Zelensky put Ukraine's 2027 war costs at €155 billion and requested at least €70 billion more from Europe, but no decision was reached and the Commission was tasked with exploring financing options alongside a €90 billion loan for 2026 and 2027. A Kiel Institute study cited in the article puts German support for Ukraine at around €100 billion including commitments, with €35.9 billion spent mainly on Ukrainian refugees amid pressure for social cuts. The article warns that this escalation, including NATO plans that could extend deep into Russian territory, risks a direct NATO-Russia war, including nuclear war.
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