European Union leaders are convening in the Belgian capital for year-end discussions with a key decision regarding the use of frozen Russian Federation assets to boost Ukraine’s defense in the war against Moscow.
“There is a simple choice: it's funds today, or blood tomorrow,” warned Poland’s leader Donald Tusk. “I’m not talking about Ukraine alone, I’m talking about Europe.”
The 27-member union is working urgently to fortify Ukraine's position while ex-American leader Donald Trump advocates for a rapid settlement to halt the conflict as the invasion continues towards the four-year anniversary.
The Financial Crisis and the Controversial Solution
The EU estimates the nation requires an extra €135bn ($159bn) to stay afloat over the next two years, with the cash crunch set to start in the spring. To plug this hole, the European Commission has proposed a plan to tap approximately €210bn of Moscow's state reserves seized in the bloc.
Germany's leader Friedrich Merz said the assets plan was critical to ramp up pressure on Vladimir Putin and send “a strong message to the Kremlin.”
A Split Union: Resistance and Legal Concerns
However, a significant group of dissenters, led by Belgium—the home of Euroclear, which custodies the majority of the frozen funds—is voicing questions about possible legal issues. Countries including Bulgaria, the Czech Republic, Italy, Malta, and Slovakia have also expressed doubts.
From a procedural standpoint, this group may not be sufficient to veto the proposal should a vote be held under qualified majority rules. Yet in practical political terms, it makes the process extremely difficult for all parties concerned.
There remains little indication of compromise, as the only other pathway—relying on EU joint borrowing—would require unanimity, and would almost certainly be blocked by Hungary, which categorically rejects providing any further help for Kyiv.
Leaders’ Comments Ahead of the Negotiations
European officials have insisted that the Brussels talks will continue as long as it is necessary to achieve an agreement, cautioning that Ukraine’s survival and Europe’s credibility are on the line.
- Ursula von der Leyen, the European Commission president, said she would not depart from the summit before an deal is reached.
- In a stark contrast, Slovak leader Robert Fico allegedly joked that they can keep him there until the New Year, and he would not back it.
- Ukrainian leader Volodymyr Zelenskyy is scheduled to join the meeting in a last-ditch attempt to persuade the critics.
Firm Resistance from Hungary
The Hungarian leader Viktor Orbán was uncompromising, calling the proposition of using frozen Russian funds “stupid” and equivalent to “marching into the war.” He expressed support for Belgium’s cautious stance.
Appeals for Consensus and a Resolution
Several other leaders stressed the critical need for a resolution.
- António Costa, President of the European Council, pledged: “We will work on the issue today, and if needed tomorrow, but we will not depart from the Council without a final decision.”
- Kaja Kallas, the EU’s foreign policy chief, commented that work to address Belgian concerns and distribute the liability equally were ongoing. She estimated the odds of a deal at “fifty-fifty.”
- Micheál Martin, the Irish Taoiseach, stated his nation was “very much in support” of the use of the frozen funds.
The stage is set for a potentially long and tense bargaining session in Brussels, with the future of significant financial aid for a nation at war resting in the balance.
