France, Dec. 4 -- European Commission President Ursula von der Leyen announced on Wednesday that the EU intends to cover two-thirds of Ukraine's projected needs for 2026 and 2027.

The International Monetary Fund estimates Kyiv will require around €137 billion over that period, and Brussels aims to contribute €90 billion of that sum through what it calls a "reparations loan" backed by frozen Russian funds.

"Today we are sending a very strong message to the Ukrainian people. We are with them for the long haul," von der Leyen said as she presented the plan, which would use Russian money as collateral rather than seizing it outright.

She argued that harnessing the frozen assets would boost Ukraine's position in future peace tal...