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The European Union allocates 9 billion euros to Ukraine to meet its liquidity needs

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European Council President Charles Michel announced that the leaders of the bloc’s 27 member states agreed at a summit in Brussels on Monday evening to grant 9 billion euros to the Ukrainian government, to cover its immediate liquidity needs to maintain in its economy functions.

And “AFP” quoted a European source, according to which European funding will take the form of “long-term loans” at low interest rates, noting that Kiev has set its liquidity needs at $ 5 billion a month.

And Michel said yesterday that EU leaders had agreed to ban the export of Russian oil to EU countries, according to “Reuters”.

“This immediately includes more than two-thirds of Russia’s oil imports, cutting off a huge source of funding for its war machine,” Michel wrote on Twitter.

He added that the leaders also decided to prevent Sberbank, Russia’s largest bank, from accessing the international SWIFT system for financial transactions and to ban three other Russian state radio stations.

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