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The European Commission plans to provide Ukraine with up to €35 billion ($39 billion) in loans, European Commission President Ursula von der Leyen said on Friday in Kiev. “Russia’s relentless attacks mean further support is necessary,” von der Leyen said, speaking alongside Ukrainian President Volodymyr Zelensky. The loan is to be “backed by the windfall profits from immobilized Russian assets,” she said. “Russia pays for the reconstruction of the damages it caused.” Around €210 billion in Russian state assets held by financial institutions in the bloc are currently frozen under EU sanctions, …

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