Two EU sources announced the U-turn at the EU summit. The excessive demands of the Belgians, who demanded unconditional guarantees for consent to the use of Russian assets, raised doubts in other capitals.
The aim of the summit is to find a financial solution for the country plunged into war with Russia. Kyiv will need it from the second quarter of next year.
Just before At 3 a.m., the President of the European Council, Antonio Costa, announced the agreement on assistance to Ukraine. “We have a deal. The decision to provide support to Ukraine in the amount of EUR 90 billion for 2026-27 has been approved. We made a commitment and kept our word,” he wrote on the X website.
According to Politico, the talks in Brussels ended after 3 p.m. “The money will be raised through joint loans taken out by 24 of the 27 EU countriesbut the consent of all countries was necessary for this plan because it is guaranteed by the central long-term EU budget,” we read.
Financing further support for Ukraine from common debt was one of two options – apart from using frozen Russian assets – proposed by the European Commission. However, this idea was put aside due to the difficulty of achieving unanimity. The solution preferred by most capitals was to use the assets of the Russian central bank, frozen since the invasion of Ukraine in 2022.
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How much support has been approved for Ukraine?
What was to be the main topic of the meeting in Brussels?
What was the other solution proposed by the European Commission?
Which countries were to be exempt from the joint debt guarantee?
However, Belgium, where most of them are located, opposed the use of these deposits. Prime Minister Bart de Wever demanded unconditional security from the other member states. The head of the European Commission, Ursula von der Leyen, started negotiations with him on Thursday.
A proposal for temporary solutions appeared on the table
During the negotiations taking place behind the scenes of the summit, a solution was reached in which – as a high-ranking official said – the Belgians were more convinced. The other leaders started debating it on Thursday after… 22. In the document they received at that time, the proposal for “unlimited” guarantees was still in square brackets, which means that it was not a foregone conclusion, but was an option.
During the four-hour debate, leaders who were in the meeting room without phones began to ask questions about what impact granting such far-reaching security measures to the Belgians would have on their countries' finances.
— There were so many questions that the scenario of providing Ukraine with temporary support from common debt was considered, while work on the use of Russian assets was to be continued by the European Commission. – said an EU source.
Such a loan would be guaranteed by the EU budget, which requires the unanimous consent of all countries. According to EU sources Hungary, Slovakia and the Czech Republic, three countries skeptical about further support for Ukraine, are also expected to agree to such a temporary scenario. However, they are expected to be excluded from the warranty, one source said.
Czech Prime Minister Andrej Babisz expressed his satisfaction with the new proposal on the X platform. — It's 1:40 a.m., we're taking a short break and we're still negotiating in the European Council. Finally, I have conclusions in my hand that we are more or less satisfied with, so keep your fingers crossed that it will work, he wrote.
At At 2.30 a.m. the heads of state and government returned to talks on this topic. Shortly before At 3 a.m., the EU summit ended with an agreement to use joint loans to grant a loan to Ukraine.
