European Union leaders are convening in Brussels for year-end discussions with a key decision on using immobilized Russian Federation funds to boost the Ukrainian defence against Russia.
“We have a clear choice: either money today, or else blood tomorrow,” stated the Polish leader Donald Tusk. “This isn't just about Kyiv only, I’m talking about Europe.”
The 27-nation union is scrambling to strengthen Kyiv’s hand while former U.S. President Donald Trump pushes for a rapid settlement to end the fighting as the invasion continues towards the fourth anniversary.
The Financial Crisis and the Controversial Solution
European officials calculate Ukraine requires an extra €135bn ($159bn) to stay afloat during the 2026 and 2027, with the funding shortfall expected to begin in the spring. To fill this gap, the EU's executive arm has proposed a plan to access some €210bn of Russian central bank reserves seized in the European Union.
German Chancellor Friedrich Merz said the proposal was critical to increase pressure on Vladimir Putin and send “a clear signal to the Kremlin.”
A Split Union: Resistance and Juridical Doubts
However, a notable opposition bloc, led by Belgium—where the headquarters of the clearing house Euroclear, which custodies the majority of the Russian assets—has been raising concerns about possible juridical challenges. Nations including Bulgaria, the Czech Republic, Italy, Malta, and Slovakia have also registered reservations.
From a procedural standpoint, this coalition may not be enough to veto the plan should a vote be held under qualified majority voting procedures. But in practical political terms, it creates the process extremely difficult for all parties concerned.
There remains little indication of compromise, as the alternative option—focusing on EU debt—would need unanimous approval, and would likely be obstructed by Hungary, which categorically rejects providing any additional help for Kyiv.
Officials' Statements Before the Talks
European leaders have insisted that the summit discussions will last as long as it takes to reach an consensus, cautioning that Ukraine’s survival and Europe’s credibility are on the line.
- Ursula von der Leyen, the European Commission president, declared she would not depart from the meeting before an deal is reached.
- In contrast, Slovakia's leader Robert Fico reportedly remarked that they can keep him there until the New Year, and he would not back it.
- Ukraine's leader Volodymyr Zelenskyy is set to join the meeting in a final effort to persuade the critics.
Firm Resistance from Hungary
The Hungarian Prime Minister Viktor Orbán was blunt, calling the proposition of utilizing frozen Russian funds “foolish” and amounting to “entering the conflict.” He voiced support for Belgium’s cautious position.
Calls for Consensus and a Resolution
Other leaders emphasized the critical need for a decision.
- António Costa, European Council president, pledged: “We will work on this today, and if needed tomorrow, but we will not depart from the Council without a conclusive agreement.”
- Kaja Kallas, the EU’s foreign policy chief, noted that efforts to allay Belgium’s worries and distribute the risk equally were continuing. She put the chances of a successful outcome at “fifty-fifty.”
- Micheál Martin, Ireland’s leader, said his country was “strongly in support” of using the frozen funds.
The scene is prepared for a potentially long and strained bargaining session in the EU capital, with the future of substantial financial support for Ukraine resting in the balance.
