The European Union has concluded difficult negotiations on financial support for Ukraine. The EU agreed to grant Ukraine an interest-free loan from the EU budget, but the issue of transferring frozen Russian assets remains unresolved. Most of these reserves, about €185 out of €210 billion, are held in Belgium, which has raised concerns over legal risks and demanded guarantees from other EU member states.
EU leaders could not reach consensus on using these assets for Ukraine due to positions of certain countries and external pressure, particularly from Russia and the United States. The final compromise involves allocating a loan from the EU budget, agreed by all member states except for the Czech Republic, Slovakia, and Hungary, which will not participate in loan guarantees. Repayment of the loan is postponed until Russia pays reparations or a separate decision on frozen assets is made.
Ukrainian President Volodymyr Zelensky stated that this strengthens the country's resilience and emphasized the need for long-term financial guarantees. Meanwhile, the political uncertainty and complexity of EU decision-making show that Europe needs greater strategic autonomy to resolve such issues. Allied countries are also expected to provide additional support, including the UK, Canada, and Japan. Ukraine's total financial needs are estimated at €136 billion.
Therefore, the EU demonstrates support for Ukraine, but postpones addressing the frozen asset issue, leaving room for further negotiations and compromises.
