Ukrainian President Volodymyr Zelensky emphasized the critical importance of providing Ukraine with a reparations loan, regardless of developments on the front or the potential establishment of peace. He made this statement during a conversation with journalists before the start of the European Union summit in Brussels.
This is reported by Kyiv24
“We need this money to support our army and our defense production. Of course, we also need European (weapons) and air defense missiles from the United States – we are ready to use this money if a positive decision is made. But if we can agree on a plan to end the war, then the decision on the use of this money will be directed entirely towards reconstruction. Right now, we are talking about 200 billion that are located in the territory of the European Union. This decision is on the table; it depends on political will. I will talk to all leaders, I will present our arguments, and I really hope that we can get a positive decision. Without this, it will be a big problem for Ukraine,” said the head of state.
Reparations Loan Based on Frozen Russian Assets
A separate point dedicated to launching a reparations loan for Ukraine has appeared in the new draft of the EU summit’s final conclusions. It is to be formed based on frozen Russian assets. However, this point has not yet been finalized and is in the process of being agreed upon by EU leaders at the summit in Brussels.
The content of this point stipulates that the Council of the European Union and the European Parliament must adopt instruments as soon as possible to create a reparations loan from the remaining funds associated with frozen Russian assets. This mechanism is expected to provide financial support to Ukraine starting from the second quarter of 2026.
The EU Does Not Plan to Leave Ukraine Without Support
Diplomats in Brussels previously noted that a final agreement on the reparations loan is not yet guaranteed. At the same time, they emphasized that the European Union does not intend to leave Ukraine without financial assistance.
The reparations loan is being considered as a mechanism for financial support to Ukraine amounting to up to 90 billion euros over the next two years. The sources of these funds are expected to be the revenues and cash balances from frozen Russian assets, which are estimated to total approximately 210 billion euros in Europe.
On December 18, leaders of the 27 EU member states gathered for a summit in Brussels, where one of the main agenda items is the decision-making regarding financial support for Ukraine.