Von der Leyen: EU moves to unlock reparations loan for Ukraine
Photo: President of the European Commission Ursula von der Leyen (Getty Images)
European Commission President Ursula von der Leyen stated that the European Union will, in the coming days, present a legislative proposal that would allow the use of Russia’s frozen assets to provide Ukraine with a €140 billion reparations loan, Bloomberg reports.
Von der Leyen said during a plenary session of the European Parliament in Strasbourg that Brussels is ready to present the text of the proposal.
"I cannot see any scenario where the European taxpayers alone will pay the bill," she said.
According to people familiar with the situation, the document is expected to be released in the coming days.
Reparations loan for Ukraine
As a reminder, the European Commission proposed providing Ukraine with a €140 billion reparations loan. It is expected to be backed by Russian assets that the EU froze after the start of Russia’s full-scale invasion of Ukraine.
For Ukraine to receive this reparations loan, all EU member states must agree.
At the moment, the initiative is being blocked by Belgium, the country that holds the largest share of Russia’s frozen assets.
Meanwhile, European countries are developing a plan B in case they cannot reach an agreement on using Russia’s frozen assets to provide the reparations loan to Ukraine.
According to Politico’s sources, one option gaining support is a “bridging” loan financed through EU borrowing to support Ukraine during the first months of 2026.
This would give more time to organize a full-scale reparations loan using Russian assets in a manner acceptable to Belgium, ensuring a long-term solution.
At the same time, Ukraine is urging its European allies to make a political decision on the reparations loan already in December.
