EU allocated 90 billion euros to Ukraine: why the frozen assets of the Russian Federation were not transferred.

According to ТСН: One of the most intense summits in recent years has concluded in Brussels. European leaders failed to agree on the transfer of frozen Russian assets to Kyiv due to opposition from Belgium. Instead, Ukraine will receive a credit of 90 billion euros from the EU budget.

Difficult negotiations until 3 AM: why reparations failed

This summit has been dubbed "decisive." The main issue was the discussion of Russian funds that were intended to be transferred to Ukraine as reparation loans. The debates lasted almost until morning, but the "financial miracle" did not happen.

The main opponent of the asset transfer turned out to be the Prime Minister of Belgium Bart De Wever. In this country, particularly in the Euroclear depository, there is a "Kremlin piggy bank" amounting to 185 billion euros. Belgium fears legal consequences from Moscow and potential financial chaos, so it blocked radical decisions.

"Everyone can leave this meeting room as a winner. I believe that Ukraine has won. It has received predictable and reliable financing based on EU borrowings… We avoided chaos and division," declared Bart De Wever after the meeting.

Plan B: 90 billion euros in exchange for future reparations

As obtaining money from the aggressor failed, Brussels implemented a backup plan. Ukraine will be allocated 90 billion euros in credit for 2026-2027 directly from the EU budget.

European Commission President Ursula von der Leyen noted:

"Ukraine will only have to repay this loan after receiving reparations from Russia."

This decision will allow Ukraine to avoid budget difficulties by next spring. According to IMF data, around 135 billion euros will be needed for social needs (pensions, salaries for medical workers and teachers) in Kyiv over the next two years, and European assistance will cover most of this amount.

"Three kings" and Orbán's demarche

Despite overall optimism, EU unity turned out to be fragile. The Czech Republic, Slovakia, and Hungary were granted the right "not to support" the common budget. Hungarian Prime Minister Viktor Orbán traditionally expressed criticism:

"This is an extremely bad decision that brings Europe closer to war. Ukrainians will never be able to repay this loan. So, in the end, this is lost money. Three countries decided not to participate in this... So we are innocent," he declared.

Western media also expressed skepticism. The publication Politico ran the headline: "Europe still does not want to pay for the rescue of Ukraine," and journalist Rikard Jozwiak ironically congratulated Ukraine on Christmas, hinting at the selfishness of some leaders.

Reaction of Volodymyr Zelensky

The President of Ukraine, who personally convinced Europeans, expressed gratitude for the result: "It is important that Russian assets remain frozen and that Ukraine has received a financial security guarantee for the coming years. Thank you for the result and unity."

Economists note that although Russian money remains blocked for now, 90 billion euros is a "lifeline" that will help avoid Ukraine's economic collapse during the war.