EU heads of state have gathered in Brussels to hold year-end discussions with a key choice regarding using immobilized Russian Federation funds to strengthen the Ukrainian defence against Russia.
“We have a simple choice: it's funds now, or else bloodshed tomorrow,” warned the Polish Prime Minister Donald Tusk. “I’m not talking about Ukraine alone, I’m talking about the entire continent.”
The 27-member union is working urgently to fortify Ukraine's position while former U.S. President Donald Trump advocates for a rapid deal to end the conflict as the war drags towards the fourth anniversary.
The Financial Crunch and the Controversial Plan
European officials calculate Ukraine needs an additional €135bn ($159bn) to stay afloat over the 2026 and 2027, with the funding shortfall set to start in the spring. To plug this gap, the EU's executive arm has put forward a plan to tap some €210bn of Russian central bank reserves seized in the bloc.
Germany's Chancellor Friedrich Merz said the proposal was essential to ramp up the pressure on Vladimir Putin and send “a clear signal to Russia.”
A Split Union: Opposition and Legal Concerns
However, a significant group of dissenters, led by Belgium—where the headquarters of Euroclear, which holds the majority of the frozen funds—has been raising concerns about possible juridical challenges. Nations including Bulgaria, the Czech Republic, Italy, Malta, and Slovakia have also expressed doubts.
Technically, this coalition is not enough to veto the proposal if a vote gets called under qualified majority procedures. Yet in practical political terms, it creates the process extremely difficult for everyone concerned.
But there is little indication of compromise, as the alternative option—relying on EU debt—would require unanimous approval, and would almost certainly be obstructed by Hungary, which categorically rejects providing any further help for Ukraine.
Officials' Statements Ahead of the Negotiations
EU leaders have insisted that the summit discussions will last for however long it takes to achieve an consensus, cautioning that Ukraine’s survival and the EU's standing are at stake.
- Ursula von der Leyen, the European Commission president, said she won’t leave the meeting before an agreement is reached.
- In a stark contrast, Slovak Prime Minister Robert Fico allegedly joked that he could be kept until the new year, and he still wouldn’t support it.
- Ukrainian President Volodymyr Zelenskyy is set 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 uncompromising, labeling the idea of utilizing seized Russian funds “foolish” and amounting to “entering the war.” He expressed support for the Belgian cautious position.
Calls for Unity and a Solution
Other leaders emphasized the urgency for a decision.
- António Costa, President of the European Council, pledged: “We will work on the issue today, and if needed tomorrow, but we will not depart from the summit without a final decision.”
- Kaja Kallas, the EU’s top diplomat, noted that work to allay Belgian worries and share the risk equally were ongoing. She estimated the odds of a successful outcome at “50/50.”
- Micheál Martin, the Irish leader, stated his country was “strongly in favour” of using the immobilised assets.
The stage is set for a possibly protracted and tense bargaining session in the EU capital, with the future of substantial financial aid for a nation at war hanging in the balance.
