Overview
- EU finance ministers will discuss the European Commission’s proposed “reparations loan” using frozen Russian sovereign assets on November 13 in Brussels in a preparatory session with no practical decisions.
- The Commission continues to favor financing via frozen Russian assets for roughly €140 billion, though officials say the only other realistic route is an EU‑level joint loan that would add to member states’ debt burdens.
- Politico reports that even a December political agreement would require months of national‑parliament approvals, making funds unlikely to arrive before an expected Ukrainian financing gap in spring 2026 and complicating IMF support.
- Belgium blocked the plan at the October 23 EU summit and, along with Hungary and Slovakia, is seeking legal guarantees as Russia denounces any expropriation as theft and threatens immediate countermeasures.
- Ministers are set to hear less‑preferred alternatives, including using SAFE funds for arms and exploring guarantees via Norway’s sovereign fund, though these options are viewed as politically and fiscally difficult.