EU to Take Up Ukraine Support Baton After Major US Boost

Welcome to the Brussels Edition, Bloomberg’s daily briefing on what matters most in the heart of the European Union.

US approval of more than $60 billion in aid throws a lifeline to Ukraine’s beleaguered military, though it’s unlikely to turn the tide in the war on its own. Much will depend on how quickly US assistance can get to the front line after the House of Representatives approved the military and economic assistance on Saturday. For Europe, which already contributed €150 billion to Ukraine, next up is addressing demands for more air defenses and deciding on the use of frozen Russian assets. Europe is “close to a political agreement’’ on the use of a windfall tax on those assets, with the first collection seen by July 1, Belgian Finance Minister Vincent Van Peteghem told us yesterday. The bloc’s foreign ministers will discuss Ukraine at their meeting today.