The EU signals readiness to support Ukraine’s war effort alone as uncertainty grows over U.S. commitment under Donald Trump.
The European Union has announced its willingness to step in and compensate for a potential U.S. withdrawal from a $50 billion G7 loan deal designed to support Ukraine amid its ongoing war with Russia. This development follows comments by U.S. House Speaker Mike Johnson, who dismissed further Ukraine funding requests until President-elect Donald Trump provides direction.
Paweł Karbownik, Poland’s deputy finance minister, raised alarms during an event marking Poland’s upcoming presidency of the EU Council. “There is a risk that Donald Trump will pull out of the $50 billion agreement,” Karbownik said, urging Trump to clarify his stance to allow the EU time to craft contingency plans.
The G7 agreement, finalized in October, allocates $20 billion each from the U.S. and EU, with the UK, Canada, and Japan contributing the remainder. The funds are to be repaid using interest accrued from over €200 billion of immobilized Russian assets. However, Trump’s potential withdrawal threatens to derail the deal, forcing the EU to act independently.
European Commission President Ursula von der Leyen has previously stated that the EU could alone provide up to €35 billion by leveraging its €1.2 trillion seven-year budget as collateral. Brussels, however, faces a tight deadline, as its budget rules require the loan to be issued by the end of 2024.
Karbownik assured that the EU would ensure Ukraine receives the necessary funding, stating, “We’ll make provisions to ensure the $50 billion goes to Ukraine regardless of Trump.”
This uncertainty comes at a critical time for Ukraine. The country’s defense relies heavily on Western financial support to counter Russian aggression. Ukrainian President Volodymyr Zelenskyy continues to advocate for sustained assistance, emphasizing the strategic importance of these funds.
The EU’s determination to support Ukraine demonstrates a firm commitment to regional stability. However, questions remain about how a Trump presidency could alter global dynamics and the West’s united front against Russia.
