BRUSSELS (ANP) – The EU is considering raising funds from the capital markets via bonds or having member states allocate from their budgets to lend to Ukraine.
European Commissioner Valdis Dombrovskis (Economy) stated that both options incur costs for member states, while utilizing frozen assets does not. He noted a “broad recognition among EU ministers that leveraging frozen Russian assets is the most viable method to promptly address Ukraine’s funding needs without adding financial strain on member states.” The Netherlands supports this strategy as well.
Belgium, however, strongly opposes using Russian assets for a loan to Ukraine, citing concerns over potential repercussions if Russia demands repayment, which could lead to warranty claims from all EU nations. These assets are managed by the Belgium-based financial institution Euroclear.
Dombrovskis acknowledged the associated risks but emphasized that the dangers of inaction are greater. “We are under time pressure and must proceed in a constructive, pragmatic, and cooperative manner,” he added.
The goal is for EU leaders to reach a final decision at the summit in mid-December, although Ukraine needs financial assistance by the first quarter of 2026.
(November 13, 2025)
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