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Ireland supports EU use of frozen Russian assets to fund Ukraine’s $70.7B defense budget via bonds.
Ireland backs a European Union plan to use frozen Russian assets to fund a €140 billion reparations loan for Ukraine, aiming to cover defense costs through 2026.
The proposal, which would issue EU-issued IOUs repayable only after Russia compensates Ukraine, faces opposition from the U.S., European Central Bank, and some EU members over legal and market stability concerns.
Ukraine’s 2025 defense budget now totals $70.7 billion, with most new funding expected from frozen Russian assets.
Its 2026 draft budget projects a deficit exceeding 40%, relying on foreign aid for non-military spending.
Ireland also supports developing a “drone wall” defense system amid threats to critical infrastructure.
Russia calls the plan theft and warns of retaliation.
Irlanda apoya el uso por parte de la UE de los activos rusos congelados para financiar el presupuesto de defensa de Ucrania de $70.7 mil millones a través de bonos.