European Commission persuading Belgium to agree to reparations loan for Ukraine - Politico

Five EU diplomats and officials told the outlet that the European Commission and Belgium are holding talks outside the main summit hall. They are trying to reconcile the most sensitive points regarding the use of €210 billion in frozen Russian assets for Ukraine’s benefit.

It is noted that Belgian Prime Minister Bart De Wever wants to secure greater financial guarantees from the EU in exchange for his support.

Two diplomats reported that De Wever leaves the leaders’ hall to meet with colleagues in a bilateral format.

Sources cited by Politico emphasized that the European Commission is, at the last moment, trying to convince Belgium that the promised guarantees are sufficient to alleviate its concerns.

Reparations loan for Ukraine

The European Council is holding a meeting in Brussels on December 18–19, where EU member state leaders are expected to decide on the form of financial support for Ukraine for 2026–2027.

European Commission President Ursula von der Leyen has proposed two options: a reparations loan using frozen Russian assets or joint borrowing based on the EU budget.

The initiative for a reparations loan is being blocked by Belgium, while Hungary and Slovakia oppose joint borrowing.

Recently, EU foreign policy chief Kaja Kallas stated that negotiations over a reparations loan for Ukraine are becoming increasingly difficult. According to her, discussions on this initiative are facing "significant pressure" from all sides.

On Thursday, December 18, Kallas said that the likelihood of reaching an agreement on the reparations loan for Ukraine at the summit is about 50-50.

Meanwhile, Ursula von der Leyen said she will not leave the EU leaders’ meeting in Brussels without finding a solution for Ukraine’s further financing.

Bloomberg reported that the EU is considering granting Ukraine a €90 billion loan from Russian assets, despite Belgium’s objections.