Zelensky seeks EU reparations loan amid Ukraine funding crunch
President Volodymyr Zelensky arrived in Brussels on Dec. 18 to attend a European Council summit, pressing EU leaders to approve a €210 billion reparations loan for Ukraine. The loan, backed by frozen Russian assets, is seen as critical for Kyiv to maintain military operations and avoid a cash shortfall by spring.
Belgium, home to Euroclear where most frozen assets are held, has expressed legal and financial concerns. Belgian Prime Minister Bart de Wever emphasized the need for safeguards, though Zelensky said their conversation was “good” and highlighted the urgency of EU support, News.Az reports, citing foreign media.
EU leaders remain divided, with Hungary opposing the plan outright and others, including Italy, Malta, and Bulgaria, seeking alternative solutions. German Chancellor Friedrich Merz and Polish Prime Minister Donald Tusk warned that failure to secure the loan could weaken Europe’s security and embolden Russia.
A decision is expected during the two-day summit, as Kyiv faces mounting financial pressure to fund domestic weapons production and long-range strikes.
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