EU council leader Antonio Costa has told Russia:
“You have not achieved your objectives in Ukraine.”
The Portuguese-born official was speaking after EU leaders, following marathon talks in Brussels, agreed to provide a loan to war-weary Ukraine which is backed by the EU budget.
At the meeting in the Belgian capital, European Union leaders struck a deal to give Ukraine a €90bn (£79bn; $105bn) loan after failing to agree on using frozen Russian assets
These funds, said Costa, will address the “urgent financial needs” of Ukraine.
Ukraine, he added, will only repay this loan once Russia pays reparations.
The Union, he told reporters,
“reserves its right”
to make use of the immobilised assets to repay this loan.
At the same time, leaders gave a mandate to the Commission to continue working on a reparation loan based on “Russian immobilised assets.”
“On top of that, we have agreed to roll over our sanctions against Russia,”
he told a news conference.
“Our goal is not to prolong the war. In fact, today’s decisions are a crucial contribution to achieve a just and lasting peace for Ukraine. Because the only way to bring Russia to the negotiation table is to strengthen Ukraine.
Today’s decisions will provide Ukraine with the necessary means to defend itself and to support the Ukrainian people,”
he said.
Costa went on.
“The message we are sending to Russia today is crystal clear: first, you have not achieved your objectives in Ukraine;second, Europe stands with Ukraine. Today, tomorrow and as long as necessary;third, Russia must come to the negotiation table in a serious way and accept that it will not win this war.”
He added,
“The only way forward is a ceasefire and a negotiated peace. Our political and financial support to Ukraine will not falter: in war, in peace and in reconstruction. We are committed to building a free and prosperous Ukraine within the European Union.”
Speaking at the same meeting, EU parliament president Roberta Metsola said,
“The most decisive factor right now is financing. Ukraine is running out of money. That is why we need to urgently find ways to raise the cost of Russia’s war by doubling down on ‘peace through strength.’
The moment has come to move forward and present a strong front. When we say that Europe must take responsibility for its own security – this is what it takes.”
The MEP said,
“At this critical moment, it remains strategically important that we keep placing our full weight behind Ukraine. We know, from experience, that for peace to be real and lasting, it must come with dignity, justice and freedom.
That means strong security guarantees and respect for the principle of ‘Nothing about Ukraine without Ukraine’. Those are the premise of any credible deal.”
“We cannot afford to show any signs of fragility or division. Russia needs to feel the pressure to come to the negotiating table – and it needs to see that it is impossible to drive a wedge between Europe, Ukraine and the United States.”
