EU leaders will commit to addressing Ukraine’s pressing financial needs for 2026-2027, a draft text to be approved at a European Council summit in Brussels.
A source told the news agency that the draft had been backed by Belgium, which holds Russian frozen assets that had been planned to be used to provide Ukraine with a €140 billion loan, though the text did not refer to that proposal.
Belgium’s prime minister, Bart De Wever, fearing a backlash from Moscow, had refused to back the proposal unless other member states agreed to share the legal and financial risk involved.
The EU had earlier said it was working to develop measures by which the frozen assets could be legally exploited to their full value. The aim was to allay the Belgian government’s fears while also enabling funding for Kyiv.
The draft conclusions invited the European Commission to present options to meet Ukraine’s financing needs for the coming two years, to be considered at the next summit, scheduled for December.
The Council’s president, António Costa, said the EU remains committed to addressing Ukraine’s financing needs until 2027, including for military and defense purposes, Reuters reported.
Politico said the draft had been agreed by the leaders of 26 countries that took part in the talks. Hungary sat out the meeting.