On a visit by European Commission President Ursula von der Leyen to Kiev, she has promised extra help to Ukraine to defend itself against Russian attacks and get through the winter. Money that Ukraine will be able to put to good use as next winter promises to be even tougher than the 2 previous ones, warns the International Energy Agency.
Von der Leyen announced in Kiev that the European Union will lend Ukraine up to €35 billion. The loan is part of the G7’s pledge in June to lend Ukraine 45 billion euros ($50 billion) by the end of the year.
The EU will thus vouch for most of that money. The remaining 10 billion euros will come from the other G7 members. The G7 is a group of 7 rich countries plus the European Union.
The loan will be covered by the proceeds of Russian assets frozen in the West. By doing so, the EU and the rest of the West want to send a signal that the burden of rebuilding Ukraine should and will be borne by those responsible for its destruction.
‘Russia continues to flagrantly and cruelly attack your civilian energy infrastructure in an attempt to plunge your country into darkness,’ Von der Leyen said at a press conference with Ukrainian President Volodimir Zelenski. ‘I am here to tell you that the European Union is here to help you in this challenge to keep the light on.’
Zelenski announced that the money will be used for energy infrastructure, defence and building shelters in schools, nurseries and universities. The money that will go to defence will mainly be used to produce drones and missiles of their own, as well as to buy anti-aircraft equipment not produced in Ukraine.
Yesterday, President of the #EuropeanCommission Ursula Von der Leyen and Executive Director of the #IEA Faith Birol attended a press conference on support for Ukraine’s energy security in the coming winter. pic.twitter.com/wMSBpA9HV5
— 🇪🇺 EUatOECD-UNESCO (@EUatOECD_UNESCO) September 20, 2024
Energy supplies
Yesterday, Von der Leyen had also promised an additional €160 million support package for urgent humanitarian aid and to better arm Ukraine’s energy infrastructure for winter.
Von der Leyen’s visit to Kiev comes a day after an unmistakable warning from the International Energy Agency (IEA). In a new report, the IEA states that Ukraine has survived 2 winters of war, but next winter threatens to be the toughest since the start of the large-scale Russian invasion.
According to the IEA, Russia has destroyed more than two-thirds of Ukraine’s capacity to produce electricity and the system is close to collapse. Energy supply next winter promises to be ‘the biggest challenge’ for Ukraine since the start of the Russian invasion, according to the IEA.
One way the European Union plans to come to Ukraine’s aid is to restore power capacity and export power from the EU to Ukraine.