The European Parliament voted on Tuesday in favor of EUR 35 billion in loans for Ukraine, covered by windfalls from frozen Russian assets.
The EU legislative chamber supported the financial aid with 518 votes in favor, 56 against and 61 abstentions.
European Commission President Ursula von der Leyen announced the package during a visit to Kiev in September, saying at the time that “Russia’s brutal attacks mean further support is necessary.”
About €210 billion of Russian state assets held by financial institutions in the bloc are currently frozen under EU sanctions, according to commission figures.
These assets generate approximately €2.5 to €3 billion in interest annually, the commission said. The EU sanctions freezing these Russian assets will be extended every six months.
Under EU sanctions rules, asset freezes or changes to punitive measures freezing Russian assets must be decided unanimously.
The €35 billion package is the European Union’s share of a $50 billion loan to Ukraine announced in June by the seven major Western industrialized countries (G7).
