EU leaders discuss financial support options for Ukraine, including loans backed by frozen Russian assets, but decisions are blocked by Belgium.

The leaders of the European Union have agreed to respond to Ukraine's urgent financial needs for the next two years, but they have not yet approved the use of frozen Russian assets to finance a major loan. Concerns expressed by Belgium led to the blocking of this decision. Ursula von der Leyen identified three main options for financial support: grants from member states, a limited recourse loan issued by the EU, and a loan linked to immobilized assets. These options can be combined and must be implemented quickly, considering the estimated need of 135.7 billion euros for Ukraine in the period 2026-2027, of which 83.4 billion would be allocated for defense.

Von der Leyen emphasized the importance of a swift decision, which should be agreed upon at the next European Council meeting in December. Reactions in Brussels have been mixed, with some diplomats considering that the loan based on frozen Russian assets is the only reasonable option, while others remain skeptical about the progress made.