EU envoys agreed on Wednesday to give Ukraine up to 35 billion euros as part of the bloc's share in a larger planned loan from the Group of Seven nations (G7) backed by frozen Russian central bank assets,

The European Union gave preliminary backing to a non-refundable loan package for Ukraine of up to €35 billion ($38.3 billion) backed by immobilized Russian central bank assets as it seeks to sustain Kyiv’s war efforts.

European Union countries have approved an unprecedented plan to issue a 35-billion-euro ($37.2 billion) loan to support Ukraine's war-torn economy, using Russia's immobilized Central Bank assets as collateral.

The European Union on Tuesday established a new framework to impose sanctions against Russia, as the democratic bloc seeks to punish the Kremlin over its destabilizing activities.

On 8 October, the EU Council approved a new sanctions regime against Russia for destabilising the EU and its member states. Source: European Pravda with reference to the press service of the EU Council Details: The new mechanism will allow the EU to impose sanctions against individuals and legal entities involved in the actions and policies of the Russian government that undermine the fundamental values of the EU and its member states,