EU reserves right to use Russian assets for Ukraine loan

European Commission President Ursula von der Leyen has stated that the first €45 billion tranche of a planned €90 billion EU loan for Ukraine could be disbursed as early as this quarter. She noted the majority of preparatory work for the loan is complete and that one-third of the funds will go to budgetary needs, with two-thirds dedicated to defense. Von der Leyen specifically indicated the first package will be focused on drones, emphasizing "Drones from Ukraine for Ukraine." This announcement provides concrete timing and allocation details following the EU's earlier declaration that it reserves the right to use frozen Russian assets to secure the loan.