EU summit opens in Brussels, leaders will not leave without Ukraine decision – von der Leyen

The European Council summit opened in Brussels on Thursday, and EU leaders will remain in talks until they reach a decision on funding for Ukraine, European Commission President Ursula von der Leyen said ahead of the meeting.

Two possible mechanisms for financial support are on the summit’s agenda: raising €90 billion through the EU budget or providing a so-called "reparations loan" backed by frozen Russian assets.

"We have to find a solution today. We will not leave the European Council meeting without a decision on funding for Ukraine for the next two years. One of the two options must be agreed," von der Leyen said, adding that she expects intense discussions among member states.

According to her, the main objective of the summit is to secure peace for Ukraine, which requires "guaranteed funding for 2026 and 2027."

According to European Pravda, a draft of the European Council’s conclusions already includes agreement on granting a reparations-based loan to Ukraine.

• The idea of a reparations loan, based on cash proceeds from frozen Russian assets, was first publicly proposed on September 10. Under this mechanism, Ukraine could receive at least €45 billion in 2026–2027.
• Belgium previously criticized the EU proposal, saying its position was "not heard" before the initiative was made public.
• According to the Financial Times, several major commercial banks in France have opposed participating in the reparations loan scheme. British banks are also against using frozen Russian assets to provide loans to Ukraine, citing concerns that they could be left exposed if Russia challenges the measures in court.