German Chancellor Friedrich Merz expressed confidence that the leaders of European Union countries are capable of reaching an agreement on providing Ukraine with financial assistance amounting to 90 billion euros over the next two years.
This is reported by Kyiv24
Utilization of Frozen Russian Assets
Merz emphasized the need to utilize frozen Russian assets located within the EU for this purpose. He stressed that he sees no better way to ensure financial support for Ukraine than by using these funds.
“I want us to use the frozen Russian assets for this. I see no better option than this one. My impression is that we can achieve a result,” Merz said upon arriving at the EU leaders’ summit in Brussels on December 18.
Merz acknowledged that some countries, including Belgium, have certain reservations regarding this issue, but expressed hope that these differences can be overcome. According to him, a joint decision by the European Union would demonstrate strength and determination in countering the aggression of the Russian Federation. He also noted that the reaction of the Russian president to recent events confirms the urgency of such a step.
Positions of European Leaders and Prospects for a Decision
The EU’s chief diplomat, Kaja Kallas, stated that she assesses the chances of approving a reparations loan for Ukraine as “50-50,” sharing the opinion of the German chancellor. Meanwhile, Swedish Prime Minister Ulf Kristersson emphasized that the current European Council summit is the most important since the beginning of the full-scale war in Ukraine, which has now lasted four years.
The new draft conclusions of the EU summit contains a separate point regarding the launch of a reparations loan mechanism for Ukraine, based on frozen Russian assets. However, this point is currently bracketed, indicating a lack of final agreement. The final decision is to be made by the leaders of EU member states and governments during the summit in Brussels.
The draft document includes a call for the EU Council and the European Parliament to approve the necessary tools for creating a reparations loan based on the cash balances related to frozen Russian assets as soon as possible. Financial support for Ukraine through this mechanism could begin as early as the second quarter of 2026.
The reparations loan is viewed as an effective means of supporting Ukraine with up to 90 billion euros over the next two years. This will involve using revenues and cash balances from frozen Russian assets, which are estimated to total approximately 210 billion euros in Europe.
The summit of leaders from the 27 EU member states is taking place in Brussels on December 18, where the final decision regarding financial assistance to Ukraine is being discussed.