European Union heads of state have gathered in the Belgian capital to hold year-end discussions facing a pivotal decision on the use of immobilized Russian assets to strengthen the Ukrainian defence in the war against Russia.
“We have a simple option: it's funds today, or blood tomorrow,” stated the Polish leader Donald Tusk. “I’m not talking about Kyiv only, I’m talking about Europe.”
The 27-nation bloc is scrambling to fortify Ukraine's position while ex-American leader Donald Trump pushes for a quick settlement to halt the conflict as the invasion continues towards the four-year anniversary.
A Looming Fiscal Crisis and the Controversial Plan
European officials calculate the nation requires an extra €135bn ($159bn) to remain solvent during the 2026 and 2027, with the cash crunch set to start in the spring. To plug this gap, the European Commission has proposed a plan to tap approximately €210bn of Moscow's state assets frozen in the bloc.
Germany's Chancellor Friedrich Merz argued the proposal was critical to ramp up pressure on Vladimir Putin and send “a strong message to Russia.”
A Divided Bloc: Opposition and Juridical Concerns
However, a notable opposition bloc, spearheaded by Belgium—where the headquarters of the clearing house Euroclear, which custodies the majority of the Russian assets—is voicing concerns about possible legal issues. Nations including Bulgaria, the Czech Republic, Italy, Malta, and Slovakia have also expressed reservations.
Technically, this group may not be sufficient to block the proposal if a vote gets called under qualified majority rules. But in practical political terms, it makes the situation extremely difficult for everyone involved.
There remains no sign of compromise, as the only other pathway—focusing on EU joint borrowing—would require unanimity, and would likely be obstructed by Hungary, which flatly denies providing any additional assistance for Kyiv.
Officials' Comments Before the Negotiations
European leaders have stated emphatically that the summit talks will last for however long it is necessary to reach an consensus, cautioning that Ukraine’s survival 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 contrast, Slovakia's leader Robert Fico reportedly remarked that they can keep him there until the New Year, and he still wouldn’t support it.
- Ukraine's President Volodymyr Zelenskyy is scheduled to join the meeting in a final effort to convince the skeptical nations.
Firm Resistance from Hungary
The Hungarian leader Viktor Orbán proved to be uncompromising, labeling the idea of using seized Russian funds “stupid” and equivalent to “marching into the conflict.” He voiced agreement for Belgium’s cautious position.
Appeals for Unity and a Solution
Several other leaders emphasized the critical need for a resolution.
- António Costa, European Council president, pledged: “Negotiations will continue on this today, and if needed tomorrow, but we will not depart from the summit before reaching a conclusive agreement.”
- Kaja Kallas, the EU’s foreign policy chief, commented that efforts to address Belgian worries and share the liability fairly were continuing. She put the chances of a deal at “fifty-fifty.”
- Micheál Martin, Ireland’s leader, stated his country was “strongly in support” of using the immobilised assets.
The scene is prepared for a potentially long and strained negotiation in the EU capital, with the fate of significant monetary support for a nation at war hanging in the balance.
