In the second plenary session this October, the European Parliament approved a major loan of up to €35 billion to Ukraine, to be repaid with future revenues from frozen Russian assets.
María Corina Machado and Edmundo González Urrutia were announced as the 2024 laureates of the Sakharov Prize for Freedom of Thought, for their brave fight to restore freedom and democracy in Venezuela, while an investigation into missing unaccompanied child migrants won the 2024 Daphne Caruana Galizia Prize for Journalism.
MEPs also voted on Parliament’s position on the EU budget for 2025, adopted resolutions condemning China’s military provocations against Taiwan and approved rules to reform EU airspace management.
Next week, MEPs will evaluate the suitability of the commissioner-designates in confirmation hearings, which will be streamed live. Read on to find out more.
Parliament approves a loan of up to €35 billion to Ukraine
MEPs approved a major loan to Ukraine to be repaid with future revenues from frozen Russian assets.
The loan is the EU’s contribution to a package with G7 partners to support Ukraine against Russia’s brutal war of aggression, as the European Commission announced in September.
Parliament also approved a new mechanism under which Ukraine can access future revenues coming from the frozen Russian state assets held in the EU. These funds will help Ukraine service and repay the loan from the Union, as well as loans from G7 partners. The funds will be paid out until the end of 2025.
Parliament approves a loan of up to €35 billion to Ukraine (press release)
Establishing the Ukraine Loan Cooperation Mechanism and providing exceptional macro-financial assistance to Ukraine (resolution)
Establishing the Ukraine Loan Cooperation Mechanism and providing exceptional macro-financial assistance to Ukraine (EP Think Tank briefing)
How the EU is supporting Ukraine in 2024 (article)