Recital (13)

In its conclusions of 18 December 2025, the European Council agreed to provide a loan to Ukraine of EUR 90000000000 for the years 2026 and 2027 based on Union borrowing on the capital markets backed by the Union budget headroom. The European Council’s conclusions also set out that, by means of enhanced cooperation pursuant to Article 20 of the Treaty on European Union (TEU), any mobilisation of resources of the Union’s budget as a guarantee for that loan will not have an impact on the financial obligations of the Czech Republic, Hungary and Slovakia. On the same date, 25 Member States agreed that the loan should be repaid by Ukraine only once reparations are received. Until then, the assets of the Central Bank of Russia should remain immobilised and the Union should reserve its right to make use of them to repay the loan, in full accordance with Union and international law. Those Member States underlined the importance of the following elements in relation to the loan: strengthening of the European and Ukrainian defence industries; Ukraine continuing to uphold the rule of law, including the fight against corruption; and the specific character of the security and defence policy of certain Member States and the security and defence interests of all Member States.