EU nears deal to fund Ukraine in 2026–27 using Russian assets
European Union leaders are set to decide how to finance Ukraine in 2026 and 2027, with frozen Russian assets emerging as the preferred solution — though the plan hinges on approval from Belgium.
With U.S. financial support for Kyiv fading under President Donald Trump and EU national budgets already under pressure, Brussels is seeking to use €210 billion in Russian central bank assets frozen across the bloc to back loans for Ukraine. Without fresh funding, EU officials warn Ukraine could run out of money by mid-2026, potentially shifting the balance of the war in Russia’s favor, News.Az reports, citing Reuters.
Belgium plays a critical role, holding about €185 billion of the frozen assets. Brussels is demanding strong guarantees that it will not be left exposed if Russia challenges the move in international courts. Belgian Prime Minister Bart De Wever has pushed for open-ended guarantees — a demand many EU states say is politically impossible.
Other funding options face obstacles. Joint EU borrowing would require unanimous approval and is expected to be blocked by Hungary, while national-level financing risks increasing already high debt levels. As a result, diplomats describe the use of frozen Russian assets as “the only game in town.”
EU leaders also see the decision as a test of Europe’s credibility after Trump labeled the bloc “weak.” Diplomats say a deal is expected before the summit ends, underscoring the EU’s determination to keep Ukraine financially and militarily afloat.
Similar news
