Fico opposes use of frozen Russian assets to support Ukraine
Slovak Prime Minister Robert Fico opposes the European Union's plan to use frozen Russian assets to finance Ukraine.
This was reported by Censor.NET with reference to SME.
"I refuse to allow Slovakia to participate in any financial scheme that would help Ukraine cope with military expenses," Fico said.
He also criticized the EU's intention to confiscate 140 billion euros worth of frozen Russian assets.
"We will face a huge number of international lawsuits," Fico said, adding that Russia could retaliate and confiscate buildings or ships belonging to European states.
According to him, Slovakia will help Ukraine with medical aid or demining, but will not finance Ukraine's military needs.
"No deadly weapon will be given to Ukraine for free," Fico emphasized.
However, he added that Slovakia would continue to sell ammunition to Ukraine.
Earlier it was reported that Slovak Prime Minister Robert Fico called on the EU to facilitate a meeting between US President Donald Trump and Russian dictator Vladimir Putin to achieve peace in Ukraine.
What is a "reparations loan"?
As a reminder, European Commission President Ursula von der Leyen has proposed using frozen Russian assets as collateral for "reparations loans" to Ukraine. Formally, the Russian assets under sanctions will not be confiscated, but Ukraine will repay such loans only after Russia pays reparations.
According to various estimates, the European Union's "reparations loan" to Ukraine, secured by Russian assets, could amount to 130-140 billion euros. Its final size will be determined after the International Monetary Fund assesses Ukraine's financing needs in 2026 and 2027.
In total, Euroclear currently has more than €175 billion in cash from frozen Russian assets that could be used to secure a new loan. But before the EU agrees on a reparations loan, it will want to repay the €45 billion ($50 billion) G7 loan to Ukraine agreed last year, which was to be repaid from the proceeds of frozen Russian assets.
