The Brussels summit seeks political decision to secure Kiev’s funding for 2026-27.

On Thursday, leaders of the European Union began a summit in Brussels aimed at advancing the use of income generated by immobilized Russian assets.

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They opened the meeting shortly after 11:30 a.m. local time, about an hour and a half later than initially scheduled, after European Commission President Ursula von der Leyen and European Council President Antonio Costa met with representatives of European farmers who were protesting in Brussels.

Upon arriving at the summit, European leaders underscored the importance of the meeting and the urgency of reaching a decision to ensure that the Ukrainian government can continue to finance itself as the war drags on.

The European Council president said the EU would take a “political decision” to ensure Ukraine’s “financial needs” for 2026 and 2027, allowing the country to “continue fighting toward a just and lasting peace.”

French President Emmanuel Macron said he would seek “a calm negotiation” to try to persuade hesitant European counterparts of the merits of granting Ukraine a reparations loan backed by Russian sovereign assets frozen in the EU.

“We have secured the mobilization of these assets. That is a very good thing; it has already been done. Now we must secure financing through a loan. We will find the technical solution, and therefore we must not divide ourselves over technical modalities. Everyone needs to be respected,” he said in Brussels ahead of the European Council meeting.

Macron said he would pursue “a calm negotiation” with reluctant European counterparts, including Belgian Prime Minister Bart De Wever, who views the initiative as highly risky from a legal and diplomatic standpoint. Belgium is home to Euroclear, the firm that holds most of the Russian assets frozen by the EU.

“The European Commission, in line with its role, has made several technical proposals. I want to say here that we must seek an agreement in a climate of calm and mutual respect. The good thing is that we all share the same objective. And that is the most important thing,” Macron said, adding that he was “confident in finding a solution.”

The so-called “Reparations Loan” referenced by Macron would provide 210 billion euros to Ukraine through the use of frozen Russian sovereign assets.

teleSUR/ JF

Source: EFE

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