We committed and we delivered. In October, we decided that the European Union would cover Ukraine’s pressing financial needs for 2026 and 2027. Last week, we decided that Russia would not get its assets back until Moscow ends its aggression. Today, we approved a decision to provide €90 billion to Ukraine for the next two years. As a matter of urgency, we will provide a loan backed by the EU budget. This will address the urgent financial needs of Ukraine. And Ukraine will only repay this loan once Russia pays reparations. The Union reserves its right to make use of the immobilised assets to repay this loan. At the same time, we gave a mandate to the Commission to continue working on the Reparation Loan based on Russian immobilised assets. On top of that, we have agreed to roll over our sanctions against Russia. Our goal is not to prolong the war. In fact, today’s decisions are a crucial contribution to achieve a just and lasting peace for Ukraine. Because the only way to bring Russia to the negotiation table is to strengthen Ukraine. Today’s decisions will provide Ukraine with the necessary means to defend itself and to support the Ukrainian people. The message we are sending to Russia today is crystal clear: - first, you have not achieved your objectives in Ukraine;
- second, Europe stands with Ukraine. Today, tomorrow and as long as necessary;
- third, Russia must come to the negotiation table in a serious way and accept that it will not win this war.
Because the only way forward is a ceasefire and a negotiated peace. Our political and financial support to Ukraine will not falter: in war, in peace and in reconstruction. We are committed to building a free and prosperous Ukraine within the European Union. Turning now to the rest of our agenda, I would like to say a few words about our long-term budget. The European Union has set an ambitious agenda for itself, focused on security, competitiveness and social cohesion. We need a budget that gives us the means to achieve our ambitions. This morning, Ursula and I, started the day by meeting representatives of farmers – while many were gathered here in Brussels. We listened to their concerns. And I want to tell them: Europe is on your side. Europe will continue to support you. Because everybody around the table of the European Council recognises the strategic importance of farming. Protecting European farmers, protecting food security is a fundamental objective of the Union. And we will address it in the upcoming budget negotiations. The European Commission proposals are a very good starting point for discussion. A new architecture fit for a new reality. Work now needs to continue on that basis. Time is of the essence. Our work will continue at pace. We need to create the conditions to reach an agreement by the end of next year. This is key to ensure we have enough time to implement our decisions. To adopt the legal acts. To prepare our administrations for the next budgetary cycle in 2028. Finally, I want to commend the excellent work carried out by the Danish Presidency, under your leadership, dear Mette. Some remarkable steps have been taken during these last six months : a strong push to strengthen Europe’s defence and security, cutting energy supplies from Russia, and important progress on cutting red tape and bolstering our competitiveness. To conclude, the decisions we took today lay the foundation for a stronger, safer and more prosperous Europe. Thank you. | 
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