The European Parliament has approved a €35 billion loan to Ukraine using Russian assets. Russia’s frozen assets amounting to €210 billion. The European Parliament has greenlit a €35 billion, or $38 billion, loan to Ukraine using the frozen assets of the Russian Central Bank. In the recent legislative step at the European Parliament, 518 members voted in favor, 56 opposed, and 61 abstained. The G7 countries are working on a plan to provide a total of $50 billion in loans to Ukraine. The loans are expected to be repaid with the income from the frozen assets in Western countries, which were suspended after Russia’s invasion of Ukraine that began in 2022. Approximately two-thirds of the frozen assets of Russia, valued at €210 billion, are located in the 27 EU member states, mostly in the custody institution Euroclear in Belgium. Yesterday, the UK announced that it would provide a $2.9 billion loan to Ukraine.