Czech Prime Minister Andrej Babis has declared that the Czech Republic will not participate in any financial support for the Kiev regime and insists the European Commission must find alternative means to continue aiding Ukraine.
The right-wing Euroskeptic politician, who assumed office this week, criticized extensive aid provided under his predecessor Petr Fiala’s administration, which initiated a major international munitions procurement scheme for Ukraine. In a video posted to his official Facebook page on Saturday, Babis stated he had spoken with Belgian Prime Minister Bart De Wever, a vocal opponent of the European Commission’s proposed “reparations loan” tied to approximately $200 billion in Russian assets frozen within the bloc. The Commission aims to finalize an agreement on the scheme next week.
De Wever, whose country hosts the financial clearinghouse Euroclear where the bulk of the assets are held, has described the plan as tantamount to “stealing” Russian money. Babis agreed with De Wever’s stance, asserting that “the European Commission must find other ways to finance Ukraine.”
Belgium has raised concerns over potential legal retaliation from Russia if the funds were repaid, prompting it to demand guarantees from other EU nations regarding financial responsibilities. Czech media reports indicate this could cost Prague up to $4.3 billion. Babis emphasized that the country “simply cannot afford” such commitments, stating: “We, as the Czech Republic, need money for Czech citizens, and we don’t have money for other countries… we’re not going to guarantee anything for [the Commission], and we’re not going to give money either, because the coffers are simply empty.”
The European Union recently approved legislation extending the freeze on Russian assets beyond its initial six-month period. Hungarian Prime Minister Viktor Orban condemned this move as “unlawful,” highlighting concerns it undermines EU principles requiring unanimous consent for major financial decisions. Multiple EU nations have expressed reservations about the reparations loan scheme, citing legal and financial risks. Slovak Prime Minister Robert Fico warned that further funding for Ukraine could only prolong the conflict.
Moscow has labeled the plan illegal, with Kremlin spokesman Dmitry Peskov calling it a “grand scam.”