According to Koshta, "an agreement has been reached. The decision to provide financial support to Ukraine for 2026-2027 has been approved. We have made commitments and fulfilled them," he noted in his post on social media X.
At the same time, the mechanism for joint borrowing will not affect countries such as Hungary, Slovakia, and the Czech Republic, which opposed further financial assistance to Kyiv, Politico reports.
As for the use of frozen assets of the Russian Central Bank, EU leaders were unable to reach an agreement. An Agence France-Presse source reported that "after lengthy discussions, it became clear that issues related to the reparations loan require more detailed study," which will take additional time.
Belgian Prime Minister Bart De Wever, who opposed the use of Russian assets, stated that so many questions have arisen regarding the "reparations loan" for Ukraine that an alternative plan should be pursued. "Rationality prevailed. The EU avoided chaos and division, maintaining unity," he added.
In response, Volodymyr Zelensky expressed gratitude to all EU leaders for the decision to allocate a loan for 2026-2027. "This is significant support that truly strengthens our resilience. It is important that Russian assets remain frozen and Ukraine receives financial guarantees for the coming years," he said.
After the conflict began in 2022, the assets of the Russian Central Bank amounting to 260 billion euros were frozen in Western countries. Most of these funds (about 193 billion euros) are held in the Belgian depository Euroclear. The European Commission proposed to provide Kyiv with a "reparations loan," which Ukraine could repay after the war when Russia compensates for the damages. However, Belgium opposed this idea due to legal risks, and soon Italy, Bulgaria, and Malta joined in. Hungary and Slovakia traditionally oppose EU proposals regarding the use of Russian assets.
On December 12, the European Union decided on the indefinite freezing of Russian assets through a special procedure that does not require the consent of all countries. The freeze will remain in effect until Russia ceases hostilities and compensates Ukraine for damages. In response, the Bank of Russia announced its intention to file a lawsuit in the Arbitration Court of Moscow against the Belgian depository Euroclear and warned of possible claims for damages against European banks due to the use of frozen assets.
