EU Member States currently show no appetite to reopen the issue of immobilised Russian assets, a senior EU official said on Monday ahead of European Council President Antonio Costa’s tour of EU capitals.
The issue was raised again by the Ukrainian authorities during Belgian Foreign Minister Maxime Prévot’s visit to Kyiv last week.
However, the official, speaking on condition of anonymity, said the obstacles and reservations voiced by several Member States during difficult discussions at the end of last year remained unchanged.
Late last year, Belgium fought a diplomatic battle to prevent the use of Russia’s sovereign reserves, fearing disproportionate financial consequences and a lack of solidarity from other EU countries in sharing the risks.
In the end, the 27 Member States shelved the matter and agreed instead on a more conventional €90 billion loan.
On the Ukrainian side, there are concerns that this EU loan, which is meant to cover two-thirds of the country’s financing needs in 2026 and 2027, could run out before contributions from non-EU countries arrive to fund the remaining third.
The official said Ukraine’s financing needs remained subject to change and that the EU would revisit the question at the appropriate time.
Costa begins a tour of EU capitals on Tuesday to gather the views of national leaders as part of preparations for the bloc’s long-term budget.
Despite deep national divisions, the main goal is still to secure an overall political agreement before the end of the year.
Other critical issues will also be discussed during the tour, including the war in Ukraine, EU enlargement, competitiveness, the Middle East and migration.
