European Union leaders are convening in the Belgian capital for end-of-year discussions with a key decision regarding the use of immobilized Russian assets to boost Ukraine’s defense in the war against Moscow.
“We have a simple option: it's funds now, or else blood tomorrow,” stated Poland’s Prime Minister Donald Tusk. “I’m not talking about Ukraine only, I’m talking about Europe.”
The 27-member bloc is scrambling to strengthen Kyiv’s hand while former U.S. President Donald Trump pushes for a quick settlement to halt the conflict as the war drags towards the four-year mark.
The Financial Crunch and the Controversial Plan
European officials calculate the nation requires an extra €135bn ($159bn) to remain solvent over the next two years, with the funding shortfall expected to begin in the spring. To plug this hole, the European Commission has put forward a plan to tap some €210bn of Russian central bank reserves frozen within the European Union.
German Chancellor Friedrich Merz argued the assets plan was critical to increase the pressure on Vladimir Putin and send “a clear message to Russia.”
A Divided Bloc: Resistance and Legal Doubts
However, a significant opposition bloc, led by Belgium—the home of Euroclear, which holds most the Russian assets—has been raising questions about potential juridical challenges. Nations including Bulgaria, the Czech Republic, Italy, Malta, and Slovakia have also registered reservations.
Technically, this coalition is not enough to block the proposal should a vote be held under qualified majority voting procedures. But in practical political terms, it creates the situation very awkward for all parties involved.
But there is no sign of a middle ground, as the alternative pathway—relying on European Union debt—would need unanimity, and would likely be blocked by Hungary, which flatly denies any additional help for Ukraine.
Leaders’ Statements Before the Talks
EU officials have stated emphatically that the Brussels discussions will continue for however long it is necessary to achieve an consensus, cautioning that the future of Ukraine and Europe’s credibility are at stake.
- Ursula von der Leyen, the head of the EU executive, declared she would not depart from the meeting before an agreement is concluded.
- In contrast, Slovakia's leader Robert Fico allegedly remarked that he could be kept until the New Year, and he still wouldn’t back it.
- Ukraine's leader Volodymyr Zelenskyy is set to join the summit in a final attempt to persuade the critics.
Strong Opposition from Hungary
Hungary’s leader Viktor Orbán proved to be blunt, calling the idea of using frozen assets “foolish” and amounting to “entering the conflict.” He expressed support for the Belgian wary stance.
Appeals for Consensus and a Resolution
Several other leaders emphasized the urgency for a decision.
- António Costa, President of the European Council, vowed: “We will work on this today, and if needed tomorrow, but we will not depart from the Council before reaching a final decision.”
- Kaja Kallas, the EU’s top diplomat, commented that work to allay Belgian concerns and distribute the liability fairly were ongoing. She put the chances of a successful outcome at “fifty-fifty.”
- Micheál Martin, the Irish leader, said his country was “very much in support” of the use of the frozen funds.
The stage is set for a possibly protracted and tense bargaining session in Brussels, with the fate of significant monetary support for Ukraine resting in the balance.
