EU's Ukraine Loan Deal a "Major Failure," Says Finnish Minister

Finland's Finance Minister Riikka Purra has sharply criticized the European Union. She labeled a recent EU decision on funding for Ukraine a "major failure." The criticism concerns a deal to use profits from frozen Russian assets. EU leaders agreed to send most of the profits as aid to Ukraine. However, a portion will be held back. This smaller portion could be used to secure a larger loan for Ukraine in the future. Minister Purra stated that this compromise weakened the plan. "This is undoubtedly a major failure for the European Union," she said. The original proposal was to use all the profits as direct financial aid. Purra argued that changing the plan to include a possible loan reduces immediate support. She believes it shows the EU cannot make strong, unified decisions. The profits come from billions in Russian central bank assets frozen by the EU after the invasion of Ukraine. Using this money to support Ukraine is a central EU policy.