Aid for Ukraine stalls as Belgium blocks Plan A and Hungary rejects Plan B

German Chancellor Friedrich Merz and European Commission President Ursula von der Leyen failed to persuade Belgian Prime Minister Bart De Wever to allow Ukraine to receive a reparations loan backed by frozen Russian assets held in Belgium, the Belga agency reported.

After the meeting, von der Leyen described the trilateral talks as a "constructive exchange of views" and stressed that supporting Ukraine is essential for Europe’s security. She also acknowledged Belgium’s concerns, noting that the country should not be left alone to bear disproportionate legal or financial risks if Russia files lawsuits or demands compensation.

Merz echoed this point in comments to German media.

"I take the concerns and objections of the Belgian prime minister very seriously. I don't want to persuade him, I want to convince him that the path we are proposing here is the right one," he said.

Germany is ready to provide guarantees for 25% of the loan amount to help persuade Belgium to release billions in frozen assets for Ukraine. However, De Wever insists on broader guarantees from all EU member states to fully shield Belgium from potential risks.

The Belgian government prefers a joint EU loan to support Ukraine — an option De Wever on Friday called the "easiest and cheapest."

But this approach requires unanimous approval from all 27 member states, whereas the Commission’s plan to use Russian assets would only need a qualified majority.

According to Politico, Hungary on Friday formally rejected the proposal to issue Eurobonds for Ukraine.

• The European Commission’s plan envisions providing €50 billion in macro-financial assistance to Ukraine by 2030 (another €45 billion had already been allocated under the earlier ERA Loans initiative), as well as €115 billion to strengthen Ukraine’s defense and industrial capabilities.