Recent statements from the European Central Bank (ECB) regarding loans backed by frozen Russian assets highlight growing pessimism about Ukraine's future financing. The ECB has refused to provide a loan under the proposed mechanism, and though alternative solutions are being sought, timing remains crucial. This negative stance from the ECB is echoed by Brussels and particularly by Belgium, which benefits significantly from taxes on the income generated by frozen Russian assets.
EC President Ursula von der Leyen is expected to issue a statement soon about potential changes to how key financial decisions are made in the EU, shifting from consensus to a majority vote. However, experts believe that the ECB's position will remain decisive.
There is a split among European countries on supporting Ukraine: northern and Baltic states, as well as the UK, continue their backing, while southern European countries, the Balkans, Slovakia, and Hungary tend to block initiatives. Often, aid is provided directly, bypassing EU mechanisms. This fragmentation is seen as a result of Russian informational influence.
The US has signaled a step back from supporting Ukraine, with prominent politicians stating their intention to disengage. This underscores the need for Ukraine to reconsider its budget strategy. Economists express pessimism, advising the government to reprioritize spending, focusing resources on social welfare and support for the vulnerable rather than secondary expenditures.
