**EU Prepares to Step in if US Withdraws from Ukraine Loan**
The European Union is ready to provide financial help if the United States pulls out of a $50 billion loan agreement meant for Ukraine. This was stated by Poland‘s Deputy Finance Minister Paweł Karbownik on December 4, 2024.
**Why Is This Important?**
Ukraine needs this money to fight against Russia’s aggression. The loan is to be repaid from over €200 billion in frozen Russian assets held in Western-controlled accounts. Karbownik warned that US President Donald Trump might pull out of the deal.
**What Did Poland’s Minister Say?**
Karbownik urged Trump to say soon whether the US will continue with its $20 billion share of the loan. If not, the EU needs to prepare for a new plan.
**The Story Behind the Loan**
This loan was agreed upon by G7 countries before the November 2024 US presidential election. The US and EU were each supposed to contribute $20 billion, while the UK, Canada, and Japan would add the rest. Initially, the US had doubts about this loan but eventually agreed to its share.
**What’s Happening Now?**
US Speaker Mike Johnson said they will wait for new instructions from President Trump before making any decisions on Ukraine aid. This comes after a request by the outgoing Biden administration was dismissed.