EU leaders agree funding for Ukraine but using Russian assets poses major test

European Commission president Ursula von der Leyen said the bloc would cover two-thirds of Ukraine’s needs for 2026 and 2027 (Harry Nakos/AP)

Almost four years into Russia’s full-scale war on Ukraine, European Union leaders have committed to funding Kyiv’s economic and military needs for the next two years, one way or another.

At a summit next week, the 27 EU leaders will weigh whether to use tens of billions of dollars in frozen Russian assets held in Europe to help meet Ukraine’s requirements, which the International Monetary Fund puts at €135bn.