EU heads of state have gathered in the Belgian capital to hold year-end discussions facing a key decision regarding using immobilized Russian assets to boost Ukraine’s defense in the war against Moscow.
“We have a clear choice: it's funds today, or else blood in the future,” stated Poland’s Prime Minister Donald Tusk. “This isn't just about Kyiv alone, I’m talking about Europe.”
The 27-member union is scrambling to strengthen Kyiv’s hand while ex-American leader Donald Trump pushes for a quick deal to halt the conflict as the war drags towards the fourth mark.
The Financial Crunch and the Proposed Solution
The EU estimates the nation needs an extra €135bn ($159bn) to stay afloat during the 2026 and 2027, with the funding shortfall set to start in the spring. To plug this gap, the EU's executive arm has proposed a plan to access some €210bn of Russian central bank assets frozen in the European Union.
German Chancellor Friedrich Merz said the proposal was essential to increase pressure on Vladimir Putin and send “a strong signal to the Kremlin.”
A Split Union: Resistance and Juridical Concerns
However, a notable group of dissenters, led by Belgium—where the headquarters of the clearing house Euroclear, which custodies the majority of the frozen funds—has been voicing questions about possible legal issues. Nations including Bulgaria, the Czech Republic, Italy, Malta, and Slovakia have also expressed doubts.
From a procedural standpoint, this coalition is not enough to block the plan if a vote gets called under qualified majority procedures. But in practical political terms, it creates the situation very awkward for all parties concerned.
There remains no sign of a middle ground, as the alternative option—focusing on European Union joint borrowing—would require unanimous approval, and would almost certainly be obstructed by Hungary, which flatly denies providing any additional assistance for Kyiv.
Leaders’ Statements Before the Talks
European officials have insisted that the summit talks will last for however long it is necessary to reach an agreement, warning that the future of Ukraine and Europe’s credibility are on the line.
- Ursula von der Leyen, the European Commission president, said she won’t leave the summit before an agreement is reached.
- In a stark contrast, Slovakia's leader Robert Fico reportedly joked that he could be kept until the New Year, and he would not back it.
- Ukraine's leader Volodymyr Zelenskyy is scheduled to participate in the summit in a last-ditch effort to convince the skeptical nations.
Strong Opposition from Hungary
Hungary’s Prime Minister Viktor Orbán was blunt, labeling the idea of using frozen assets “foolish” and amounting to “marching into the war.” He expressed support for the Belgian cautious stance.
Calls for Unity and a Resolution
Other EU heads of state emphasized the critical need for a resolution.
- António Costa, President of the European Council, vowed: “Negotiations will continue on the issue today, if it’s necessary tomorrow, but we will not depart from the summit without a final decision.”
- Kaja Kallas, the EU’s foreign policy chief, noted that work to address Belgium’s concerns and distribute the liability equally were ongoing. She estimated the chances of a deal at “50/50.”
- Micheál Martin, Ireland’s Taoiseach, stated his country was “very much in support” of the use of the frozen funds.
The stage is set for a possibly long and tense negotiation in the EU capital, with the future of substantial financial aid for a nation at war hanging in the balance.
