EU heads of state have gathered in the Belgian capital to hold year-end talks with a pivotal decision regarding using frozen Russian Federation assets to strengthen the Ukrainian defence in the war against Russia.
“There is a simple choice: it's funds today, or else blood tomorrow,” warned the Polish leader Donald Tusk. “This isn't just about Kyiv only, I’m talking about the entire continent.”
The 27-nation bloc is working urgently to fortify Ukraine's position while former U.S. President Donald Trump pushes for a rapid settlement to halt the conflict as the invasion continues towards the fourth anniversary.
A Looming Fiscal Crisis and the Controversial Plan
The EU estimates the nation needs an extra €135bn ($159bn) to remain solvent over the next two years, with the funding shortfall set to start in the spring. To plug this hole, the European Commission has put forward a scheme to tap some €210bn of Moscow's state assets frozen within the European Union.
Germany's Chancellor Friedrich Merz said the proposal was critical to ramp up the pressure on Vladimir Putin and send “a clear signal to Russia.”
A Split Union: Opposition and Legal Doubts
However, a significant opposition bloc, led by Belgium—where the headquarters of Euroclear, which custodies most the frozen funds—has been voicing questions about possible juridical challenges. Countries including Bulgaria, the Czech Republic, Italy, Malta, and Slovakia have also registered doubts.
Technically, this coalition may not be sufficient to block the proposal if a vote gets called under qualified majority voting procedures. Yet politically, it makes the situation extremely difficult for all parties concerned.
There remains little indication of a middle ground, as the only other option—relying on EU debt—would require unanimity, and would likely be blocked by Hungary, which categorically rejects any further assistance for Ukraine.
Leaders’ Comments Ahead of the Talks
EU leaders have insisted that the summit discussions will continue for however long it is necessary to achieve an agreement, warning that Ukraine’s survival and the EU's standing are on the line.
- Ursula von der Leyen, the head of the EU executive, declared she would not depart from the meeting before an agreement is reached.
- In a stark contrast, Slovakia's Prime Minister Robert Fico reportedly remarked that they can keep him there until the new year, and he still wouldn’t support it.
- Ukraine's leader Volodymyr Zelenskyy is set to join the meeting in a final attempt to persuade the skeptical nations.
Strong Opposition from Budapest
Hungary’s Prime Minister Viktor Orbán proved to be uncompromising, calling the proposition of utilizing seized assets “foolish” and equivalent to “entering the war.” He expressed agreement for Belgium’s cautious position.
Calls for Consensus and a Resolution
Several other leaders stressed the urgency for a decision.
- António Costa, President of the European Council, vowed: “We will work on the issue today, if it’s necessary tomorrow, but we will not depart from the Council without a conclusive agreement.”
- Kaja Kallas, the EU’s top diplomat, noted that work to address Belgian worries and distribute the risk equally were ongoing. She estimated the odds of a deal at “50/50.”
- Micheál Martin, Ireland’s Taoiseach, stated his country was “very much in support” of using the frozen funds.
The scene is prepared for a possibly protracted and strained bargaining session in Brussels, with the fate of significant financial support for Ukraine hanging in the balance.
