On Wednesday (3), several NATO countries announced additional military aid to Ukraine worth more than one billion euros, and called on Moscow to stop its threats and open serious negotiations with Kiev. The European Commission also presented a two-year financing plan for Ukraine, despite some opposition within the bloc.
Several NATO countries, including Norway, Poland and Germany, have announced that they will buy US weapons worth about 1 billion euros for Ukraine. These purchases will be made as part of the Purl programme, which aims to supply Ukraine with US weapons financed by European countries and which has already raised about 4 billion euros.
Canada also pledged 200 million euros, and the Netherlands announced on Monday (the first) a commitment of 250 million euros. France, which does not participate in this programme, is under pressure from its partners, such as Germany and the Netherlands, to contribute more to military support for Ukraine.
The European Commission is mobilizing
On Wednesday, the European Commission also presented a two-year financing plan for Ukraine. The proposal includes two options to cover part of Kiev’s financial needs for the years 2026 and 2027, estimated at about 137 billion euros: a European loan or the use of Russian assets frozen in Europe.
European Commission President Ursula von der Leyen told the press: “Today, we propose to cover two-thirds of Ukraine’s financing needs for the next two years. This represents 90 billion euros.” He added that the final third should be guaranteed by “international partners,” such as the United Kingdom, Canada or Japan.
The decision to resort to the European loan, which requires consensus among member states, faces resistance from some countries and radical opposition from Hungary. In the face of the blockade, the committee does not hide that it prefers to resort to frozen Russian assets.
The Belgian government is resisting
However, the use of frozen Russian funds in Europe still faces hostility from Belgium. Most of these Russian central bank assets, blocked by sanctions imposed after the invasion of Ukraine, are on Belgian territory, and Brussels refuses to take the risks alone in case of problems.
Belgian diplomacy chief Maxime Prévot said on Wednesday that the European Commission’s proposal “does not respond to Belgium’s concerns” and remains “the worst of the options.” “We are frustrated that we are not being heard,” the minister stressed.
In order not to leave Belgium alone in facing risks, the Commission proposed using all frozen Russian assets in Europe, including those in France, for example.
The use of frozen Russian assets costs European taxpayers nothing, but it also raises concerns for the European Central Bank, which fears turmoil in financial markets. The European Central Bank announced on Tuesday that it was “not prepared to guarantee this loan.”
(with agencies)