EU prepares 35 billion euro loan package for Ukraine as war escalates

The European Union is stepping up its support for Ukraine amid the ongoing war, preparing a loan package of up to 35 billion euros ($39 billion). This move comes as the EU seeks to address security threats independently of the United States. Russian forces are advancing in eastern Ukraine, while President Volodymyr Zelenskyy aims to secure military and financial support. The EU's decision to proceed without U.S. involvement reflects concerns over the upcoming U.S. election and potential shifts in American foreign policy. The EU's loan plan is part of a broader strategy involving frozen Russian assets, with the bloc aiming to provide significant financial aid to Ukraine. A summit of EU leaders is set for October 17-18 to discuss this initiative further.