EU heads of state are convening in the Belgian capital for end-of-year talks facing a key choice on using immobilized Russian assets to strengthen the Ukrainian defence in the war against Moscow.
“There is a clear option: it's money today, or 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 fortify Ukraine's position while former U.S. President Donald Trump advocates for a quick settlement to end the fighting as the invasion drags towards the fourth anniversary.
The Financial Crunch and the Controversial Plan
European officials calculate the nation needs an extra €135bn ($159bn) to stay afloat over the next two years, with the cash crunch expected to begin in the spring. To plug this hole, the EU's executive arm has proposed a plan to tap approximately €210bn of Moscow's state assets frozen in the European Union.
German leader Friedrich Merz said the assets plan was essential to increase pressure on Vladimir Putin and send “a clear signal to Russia.”
A Divided Union: Opposition and Legal Doubts
However, a significant group of dissenters, spearheaded by Belgium—the home of Euroclear, which custodies the majority of the frozen funds—has been voicing questions about potential legal issues. Nations including Bulgaria, the Czech Republic, Italy, Malta, and Slovakia have also registered reservations.
Technically, this group is not enough to block the plan if a vote gets called under qualified majority procedures. Yet politically, it creates the situation extremely difficult for everyone involved.
There remains little indication of a middle ground, as the only other option—relying on European Union debt—would require unanimity, and would almost certainly be blocked by Hungary, which categorically rejects providing any additional help for Kyiv.
Leaders’ Comments Before the Talks
EU officials have stated emphatically that the Brussels discussions will continue as long as it takes to achieve an consensus, warning that the future of Ukraine and Europe’s credibility are at stake.
- Ursula von der Leyen, the head of the EU executive, declared she won’t leave the summit until an deal is reached.
- In contrast, Slovak leader Robert Fico reportedly joked that he could be kept until the New Year, and he still wouldn’t support it.
- Ukrainian President Volodymyr Zelenskyy is set to join the meeting in a last-ditch attempt to persuade the skeptical nations.
Strong Opposition from Budapest
The Hungarian leader Viktor Orbán was blunt, labeling the proposition of using frozen Russian funds “stupid” and equivalent to “entering the conflict.” He voiced agreement for Belgium’s cautious position.
Appeals for Consensus and a Solution
Other leaders emphasized the critical need for a decision.
- António Costa, President of the European Council, pledged: “We will work on this today, if it’s necessary tomorrow, but we will not depart from the Council without a conclusive agreement.”
- Kaja Kallas, the EU’s foreign policy chief, noted that work to allay Belgium’s worries and share the risk fairly were ongoing. She estimated the chances of a deal at “fifty-fifty.”
- Micheál Martin, the Irish Taoiseach, said his nation was “strongly in support” of using the frozen assets.
The stage is set for a possibly protracted and tense negotiation in Brussels, with the fate of substantial monetary aid for Ukraine hanging in the balance.
