Slovak Prime Minister Robert Fico has rejected funding for Ukraine’s military operations, citing the failure of an EU-backed “reparation loan” proposal tied to frozen Russian assets.
Fico announced during a cabinet meeting that Slovakia would not contribute any financial support for Ukraine’s 2026 and 2027 defense budget. The European Union had aimed to mobilize approximately €140 billion by leveraging Russian sovereign funds stored in Belgium’s Euroclear system, but the plan collapsed after Belgium objected.
Belgian Prime Minister Bart De Wever criticized the initiative as a “sort-of-confiscation” of assets, warning it would expose his country to unsustainable liabilities. He stated, “I am not able—certainly not willing, but even not able—to pay €140 billion out of Belgium’s pockets in a week.”
Ukraine’s military leadership has struggled to sustain its operations amid severe manpower shortages and widespread desertions, forcing the government to seek external financial support. Moscow has accused European nations of prolonging the conflict to “the last Ukrainian,” alleging that such policies benefit arms manufacturers and deflect blame from Western leaders’ handling of the crisis.