EU heads of state are convening in the Belgian capital to hold end-of-year discussions facing a key choice on the use of immobilized Russian Federation funds to boost the Ukrainian defense in the war against Moscow.
“There is a clear option: either funds now, or else bloodshed in the future,” stated the Polish Prime Minister Donald Tusk. “This isn't just about Ukraine alone, I’m talking about the entire continent.”
The 27-nation union is scrambling to fortify Ukraine's position while former U.S. President Donald Trump pushes for a rapid deal to end the fighting as the invasion drags towards the fourth anniversary.
The Financial Crisis and the Proposed Plan
European officials calculate Ukraine requires an additional €135bn ($159bn) to stay afloat over the 2026 and 2027, with the cash crunch set to start in April. To plug this hole, the EU's executive arm has put forward a scheme to tap some €210bn of Moscow's state assets frozen within the European Union.
German leader Friedrich Merz argued the proposal was critical to increase the pressure on Vladimir Putin and send “a strong signal to the Kremlin.”
A Divided Bloc: Resistance and Legal Doubts
However, a notable opposition bloc, spearheaded by Belgium—the home of the clearing house Euroclear, which holds most the Russian assets—has been raising concerns about possible legal issues. Countries including Bulgaria, the Czech Republic, Italy, Malta, and Slovakia have also registered doubts.
From a procedural standpoint, this coalition may not be enough to block the plan should a vote be held under qualified majority procedures. Yet in practical political terms, it makes the situation extremely difficult for all parties concerned.
There remains no sign of compromise, as the alternative pathway—focusing on EU joint borrowing—would need unanimous approval, and would almost certainly be blocked by Hungary, which flatly denies providing any additional assistance for Kyiv.
Leaders’ Comments Before the Negotiations
European officials have insisted that the summit discussions will continue as long as it takes to reach an agreement, cautioning that the future of Ukraine and the EU's standing are at stake.
- Ursula von der Leyen, the head of the EU executive, said she won’t leave the meeting until an deal is concluded.
- In a stark contrast, Slovakia's Prime Minister Robert Fico reportedly joked that he could be kept until the new year, and he still wouldn’t back it.
- Ukrainian President Volodymyr Zelenskyy is scheduled to participate in the meeting in a last-ditch attempt to convince the critics.
Firm Resistance from Budapest
The Hungarian Prime Minister Viktor Orbán proved to be blunt, labeling the idea of using seized Russian funds “foolish” and equivalent to “marching into the war.” He expressed agreement for the Belgian cautious position.
Calls for Unity and a Solution
Several other EU heads of state emphasized the urgency for a decision.
- António Costa, European Council president, vowed: “Negotiations will continue on this today, and if needed tomorrow, but we will never leave the summit without a conclusive agreement.”
- Kaja Kallas, the EU’s foreign policy chief, commented that efforts to allay Belgium’s worries and share the liability fairly were continuing. She put the chances of a deal at “50/50.”
- Micheál Martin, the Irish Taoiseach, said his nation was “very much in support” of the use of the frozen assets.
The scene is prepared for a potentially long and tense bargaining session in Brussels, with the fate of substantial financial support for a nation at war hanging in the balance.
