The EU cannot find 140 billion euros for Ukraine: three solutions to the crisis.

According to ТСН: The European Union promised to provide financial support to Ukraine to strengthen its defense capabilities and stabilize the economy in the coming years. However, the EU is facing difficulties in agreeing on ways to implement this assistance.

Belgium's Concerns

According to The Telegraph, "Belgium fears that if the loan to Ukraine is financed from frozen Russian assets, then if the sanctions are lifted sooner than expected, Moscow may demand the return of its money, and Brussels will have to cover the deficit created as a result of providing the assets to Ukraine. Belgium is also concerned that the Kremlin may carry out its threats and file a lawsuit against Euroclear, and thus against the Belgian state for even touching this money," journalists note.

Ukraine's Prospects

According to the article's authors, "without this money from Europe, Ukraine's near future looks very bleak. To continue financing its defense, Kyiv will have to make tough choices about cutting budget expenditures."

Experts warn that an economic collapse could happen within a few months.

Financial Support

It should be noted that the IMF, along with the European Commission, estimates that Ukraine needs an additional 140 billion euros for military and budgetary needs in 2026-2027 due to reduced funding from the US and the protracted war. The IMF also calculated the need for another 140 billion dollars just for budgetary support until 2029.

Initially, the European Commission planned to offer Ukraine a "reparative loan", financed from 190 billion euros of frozen assets of the Central Bank of Russia, which are under the jurisdictions of the EU. But this proposal was rejected by Belgium, where most of these assets are concentrated.

The EC is open to considering other options and presents three main scenarios:

• direct bilateral funding of Ukraine

• joint borrowing at the EU level

• reparative loan

Belgium also insisted on sharing the risks associated with a possible legal decision regarding the return of the Central Bank of Russia's assets or lifting sanctions and unfreezing these assets.

Against the backdrop of the current challenges in Ukraine, financial support from the EU is critically important for maintaining the stability and defense of the country. However, delays or changes in the format of this aid could significantly impact the economic situation in Ukraine, which is already under the pressure of war and political instability.