Slovak Prime Minister Robert Fico expressed disagreement over the use of frozen Russian assets for Ukraine’s benefit
Slovak Prime Minister Robert Fico informed European Council President António Costa that he would not support any decisions regarding financing Ukraine’s military expenses through frozen Russian assets.
In his letter to Costa, the text of which was published by LIGA.net, Fico expressed his disagreement with recent proposals from the European Commission to finance Ukraine’s needs for 2026-2027. The Prime Minister emphasized that the EU’s strategy regarding the military conflict in Ukraine is ineffective and that continuing it without strengthening Ukraine’s position in potential peace negotiations is pointless.
Fico also noted that the peace policy he advocates does not allow him to support the European Commission’s proposals, as allocating significant funds for military expenses only prolongs the conflict. Moreover, according to him, using frozen Russian assets could threaten the peace efforts of the US, which plans to use them for Ukraine’s recovery.
He stressed that Slovakia’s clear position would not change, regardless of the length of the European Council meetings in Brussels. “I cannot and will not be pressured to support decisions on Ukraine’s military expenses, whatever they may be,” Fico added.
The European Commission had previously put forward the idea of a “reparation loan” valued at 140 billion euros, based on frozen Russian assets, which would allow Ukraine to receive 45 billion euros annually from 2026 to 2028. Additionally, in the “peace plan” proposed by the US, there was a provision for the investment of 100 billion dollars of frozen Russian assets in Ukraine’s recovery.
The European Union plans to approve a new mechanism for blocking Russian assets by the end of the week to avoid Hungary’s veto. EU ambassadors have already reached an agreement to simplify the retention of frozen Russian assets within the bloc.
| Initiative | Funding (billion euros/dollars) | Period |
|---|---|---|
| EC Reparation Loan | 140 billion euros | 2026-2028 |
| US Peace Plan | 100 billion dollars | – |
