Polish Deputy Finance Minister Pawel Karbownik said on Dec. 4 that the European Union is prepared to compensate if the U.S. withdraws from the G7's $50 billion multilateral loan agreement for Ukraine.
The loan, agreed upon by G7 countries in October, is designed to be repaid using interest from over $300 billion in frozen Russian assets under Western control.
"There is a risk that Donald Trump will pull out of the $50 billion agreement," Karbownik warned during an event marking Poland's upcoming presidency of the EU Council, Politico reported.
Under the agreement, the EU and the U.S. were to contribute $20 billion each, with the United Kingdom, Canada, and Japan funding the remainder.
Faced with the possibility of the U.S. withdrawal, Brussels signed an agreement with Kyiv to raise its potential contribution to up to 35 billion euros. The final sum provided by the EU will depend on the scale of the U.S.'s involvement.
Concerns have grown as U.S. House Speaker Mike Johnson, a Republican and Trump ally, has resisted putting a $24 billion Ukraine aid package to a vote. Johnson previously delayed aid to Kyiv last fall by stalling a $61 billion foreign assistance bill, though he ultimately negotiated its passage.
As the Biden administration accelerates aid deliveries before Trump assumes office in January, uncertainty over U.S. support for Ukraine looms. Outgoing U.S. Secretary of State Antony Blinken said that Ukraine should receive the loan from the U.S. and the EU within the coming weeks.
Trump has criticized military assistance for Ukraine and said he aims to push for negotiations between Kyiv and Moscow, potentially requiring Ukraine to cede territory and temporarily abandon its NATO aspirations.
Olena Goncharova
(Updated: )
