Discussions continue: EU has not yet reached agreement on use of Russian assets for Ukraine, — DW
On Thursday, 18 December, European Union leaders failed to reach an agreement on the use of frozen Russian assets to finance Ukraine.
According to Censor.NET, this was reported by Deutsche Welle following the first day of the EU summit in Brussels.
The final communiqué, released following the first day of the summit, does not mention the issue of financing Ukraine with Russian assets. The document begins with a section on the situation in the Middle East, while the section on support for Ukraine for 2026-2027 has been omitted. EU leaders plan to continue discussing this topic on 19 December.
Why the EU failed to reach an agreement
According to Deutsche Welle, the European Commission's initiative on a so-called "reparations loan" for Ukraine was discussed during the summit. This is a mechanism that involves the use of frozen Russian assets with national guarantees from EU member states. These funds can only be returned to Russia after it pays reparations to Ukraine.
However, a number of countries expressed reservations about such a scheme, citing legal and financial risks.
Who opposed the scheme
According to DW, Belgium, Hungary, Slovakia, Italy, Bulgaria, Malta and the Czech Republic opposed the proposed mechanism. Representatives of these countries emphasised the possible negative consequences for the financial stability of the European Union and the risks of violating international law.
"The issue of using frozen Russian assets raises serious legal doubts and concerns about the stability of the EU financial system," Deutsche Welle notes.
Discussions on further financial support for Ukraine are expected to continue. The EU summit will also continue on 19 December.
- Earlier, European Central Bank President Christine Lagarde said she was confident that European Union leaders would find a solution for financial support to Ukraine.
