European Parliament speeds up approval of reparations loan for Ukraine
Illustrative photo: European Parliament to review reparations loan for Ukraine under accelerated procedure (Getty Images)
Members of the European Parliament have decided to use an accelerated procedure to review the proposal for a reparations loan for Ukraine, according to the European Parliament press service.
"On Tuesday (December 16), Parliament backed, by a show of hands, a request to fast-track its legislative processes on draft legislation for a loan to Ukraine," the statement says.
The European Parliament clarified that funds from the reparations loan are planned to support Ukraine's financial needs and state budget, including military capabilities, the defense industry, and integration into the European defense-industrial base.
After the decision to accelerate the procedure, MEPs will adopt their position on the reparations loan ahead of negotiations with member state governments at the next plenary session, scheduled for 19-22 January 2026.
The European Parliament noted that the reparations loan must be approved by EU leaders at the summit on 18-19 December.
About the reparations loan for Ukraine
The European Commission proposed the initiative for a reparations loan for Ukraine, secured by frozen Russian assets.
For the initiative to take effect, it requires approval from all EU member states.
So far, Belgium has opposed the plan, citing concerns over potential lawsuits from Russia and sanctions. Last week, Belgium, Italy, Malta, and Bulgaria called for exploring alternatives to the reparations loan.
