UK welcomes EU funding agreement for Ukraine

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Chancellor of the Exchequer Rachel Reeves takes part in a town hall session at the Calthorpe Community Gardens, following the Monetary Policy Committee (MPC) announcement that interest rates will be cut from 4% to 3.75%, in London, Britain December 18, 2025. Lucy North/Pool via REUTERS

LONDON, Dec 19 - British finance minister Rachel Reeves on Friday welcomed ‍a ​decision by European Union ‍leaders to loan 90 billion euros ($105 ​billion) ​to Ukraine to fund its defence against Russia.

I am pleased to ‍see the agreement made today at ​the European ⁠Council to provide vital financial support for Ukraine, she said in a post on ​X.

We will work with partners to urgently ‌consider options to ​ensure that Ukraine gets the funding it needs.

EU leaders decided to borrow cash to fund Ukraines defence against Russia for the next two ‍years rather than use frozen ​Russian assets, sidestepping divisions over an ​unprecedented plan to finance ‌Kyiv with Russian sovereign cash. REUTERS