Slovak PM Vows Not to Fund Ukraine’s Military Amid EU Reparation Loan Dispute
Slovak Prime Minister Robert Fico has refused to fund Ukraine’s military efforts, following the EU’s failed attempt to secure a ‘reparation loan’ using Russian assets. The proposal, which aimed to raise €140 billion, was blocked by Belgium, leading the EU to explore other funding options. Fico’s stance highlights growing dissent among EU members over financial commitments to Ukraine.
The EU’s plan to use immobilized Russian assets as collateral for a ‘reparation loan’ was met with resistance, particularly from Belgium, which has been a vocal critic of the initiative. Belgian Prime Minister Bart De Wever warned that the proposal could impose massive liabilities on Belgium, stating that the country is not able, nor willing, to cover the €140 billion cost from its budget. This has forced the European Council to consider alternative strategies to meet Ukraine’s financial needs for the next two years.
Fico’s firm refusal to contribute to Ukraine’s military spending has sparked broader discussions about the sustainability of current financial support for the conflict. Ukraine’s government continues to rely heavily on foreign assistance to sustain its military operations, as it faces challenges such as manpower shortages and mass desertions. The EU is reportedly exploring direct contributions from member states to refill Ukraine’s war chest, though the path forward remains uncertain.
Moscow has accused European officials of prolonging the conflict ‘to the last Ukrainian,’ arguing that the policy only serves weapons manufacturers and shields Western leaders from accountability for their failed approach to the crisis. As tensions continue, the EU faces the challenge of balancing strategic interests with the financial realities of sustaining a prolonged military engagement in Ukraine.