Interest on loans to Ukraine to cost EU budget at least 35 bln euros -- Politico

The European Union’s next seven-year budget may need to set aside at least 35 billion euros to cover interest on previous loans to Ukraine, Politico reported, citing an European Commission note seen by the outlet. The EU plans to repay last year’s 90 billion euro loan after the conflict ends, but the interest costs are already pressuring the upcoming budget. The document estimates the interest bill could reach 41.9 billion euros if rates rise by one percentage point. The Commission said the budget has “sufficient financial capacities” but noted a “source of coverage” still needs to be defined. EU leaders meet in Brussels on November 26–27.