Von der Leyen says EU keeps option to use Russian assets to fund Ukraine
European Commission President Ursula von der Leyen (Photo: X.com: Ursula von der Leyen)
The European Union reserves the right to use remaining cash from frozen Russian assets to finance the loan provided to Ukraine, according to European Commission President Ursula von der Leyen.
“We reserve our right to use the cash balances from Russian assets immobilised in the EU to finance the loan. This is the solution we found together,” the Commission President emphasized.
She added that financing Ukraine after 2027 will be part of the next long-term EU budget discussions.
As reported, on December 19, the European Union approved a €90 billion aid package for Ukraine, to be provided as an interest-free loan.
Ukraine will only have to repay the loan after Russia pays reparations.
Hungary, Czechia, and Slovakia have refused to participate in financing the loan for Ukraine, according to a press release from the European Council.
Reparations loan for Ukraine
The European Commission had proposed granting Ukraine a €140 billion reparations loan using frozen Russian assets.
However, Belgium is blocking this initiative, as it holds the largest share of Russian assets in its territory.
If an agreement cannot be reached, the EU is prepared to consider a Plan B - a transitional loan funded through EU borrowing to support Ukraine at the start of 2026.
At the same time, Germany warned the EU that refusing to back the reparations loan for Ukraine could worsen credit ratings and increase interest rates.
As reported, an EU leaders’ summit is taking place in Brussels on December 18–19, where decisions on financial support for Ukraine for 2026–2027 were to be made.
European Commission President Ursula von der Leyen stressed that the meeting would not end until a solution is found.
