Most leaders of the European Union support the idea of providing Ukraine with a reparations loan funded by frozen assets of the Russian Federation. However, some heads of state advocate for alternative financial instruments. This was stated by the President of Ukraine, Volodymyr Zelensky, during a conversation with journalists in Brussels after the EU summit meeting.
This is reported by Kyiv24
Financial Support for Ukraine: A Critical Issue for 2026
The President emphasized that the main goal is to prevent a situation where Ukraine is left without financial assistance for the next year, as a budget deficit of 45–50 billion euros is projected. Zelensky stressed the importance of ending the war through diplomatic efforts but noted that Russia continues to demonstrate aggressive rhetoric. Therefore, according to him, Ukraine must remain strong, and financial assistance is necessary not only for the front but also to ensure the country’s overall defense capability.
“We are united in one thing – we cannot afford for Ukraine to be left without answers these days regarding financial possibilities for the next year. Because this is a threat – 45–50 billion (euros) will definitely be a deficit, and we do not know exactly how events will unfold next year. We are doing everything to end the war; all our efforts are aimed at a diplomatic course to conclude this war, but we hear various messages from the Russian side, they talk more about war than about peace. Therefore, Ukraine must be strong. 45–50 billion for next year is not only about the front; it is fundamentally about Ukraine’s ability to fight… So let us believe that today’s decision will be positive.”
Reparations Loan: Conditions and Prospects
In response to journalists’ clarifications, Zelensky explained that if a negative decision is made regarding the allocation of the tranche in the spring, Ukraine will be forced to reduce drone production, which will affect the country’s defense capability. He emphasized that funding is necessary both for the country’s recovery in case of peace and for military purposes in the event of continued hostilities.
Before the summit began, the president noted that obtaining a reparations loan is critically important both during the war and on the path to peace. The new draft of the summit’s final document contains a detailed point about launching a reparations loan for Ukraine based on frozen Russian assets. However, this point has not yet been finalized and requires approval from the leaders of EU countries.
The document also includes a call for the EU Council and the European Parliament to promptly adopt tools for creating a reparations loan using the remnants of frozen Russian assets. It is expected that financial support will start in the second quarter of 2026.
Diplomats in Brussels note that a final agreement on this loan has not yet been reached. At the same time, they emphasize that the EU will not leave Ukraine without financial assistance.
The reparations loan is seen as one of the main mechanisms for supporting Ukraine, amounting to up to 90 billion euros over the next two years. These funds are expected to come from the revenues and remnants of frozen Russian assets, which are estimated to total 210 billion euros in Europe.
On December 18, a summit took place in Brussels with the participation of leaders from 27 EU member countries, during which financial assistance to Ukraine was discussed.