Prague – The Czech Republic will not provide guarantees for financing Ukraine, said designated Prime Minister Andrej Babiš (ANO) in a video posted today on the X network. The upcoming EU summit, starting next Thursday, will address Ukraine’s financial requirements for 2026 and 2027. The European Commission has put forth two financing options: a loan from the EU or a reparations loan backed by frozen Russian assets. Ukraine has been under Russian military aggression since February 2022.
Babiš expressed agreement with Belgian Prime Minister Bart De Wever, whom he met in Brussels on Thursday. “The European Commission must explore alternative financing methods for Ukraine,” he stated. “We lack the funds to support other countries, and this issue must be resolved by the EU in another manner, but we will not offer any guarantees or contribute financially,” he added.
Outgoing Foreign Minister Jan Lipavský (for ODS) believes the only feasible approach is a loan for Ukraine funded by the cash from frozen Russian central bank assets. “Ukraine’s needs are immediate, and EU negotiations must not serve as a rationale for stalling the necessary aid,” he commented in a statement to ČTK.
Outgoing Minister for European Affairs Martin Dvořák (STAN) criticized Babiš’s statement, indicating a shift in Czech foreign policy that veers away from advocating for traditional values and principles in international relations towards a stance of cowardice and selfishness, disguised as pragmatism. “The unfortunate reality is that this unwillingness to support the fight against aggressors may eventually affect our own country when the same aggressor nears our borders and our Western allies adopt a similar ‘pragmatic’ attitude,” he remarked.
At next week’s summit, EU leaders will choose between the two proposed financing options for Ukraine. According to the Commission, the first option involves the EU securing capital in the markets with the EU budget acting as a guarantee, which requires unanimous approval from all EU states. The second option, a reparations loan for Kyiv, only needs approval by a qualified majority. (13 December)
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