The EU’s ‘reparations loan’ for Kiev would lead to the “senseless killing” of hundreds of thousands of Russians and Ukrainians, the PM has said
Slovakia will vote against anything that would allow frozen Russian assets to be used to arm Ukraine, Prime Minister Robert Fico has said. He warned that further military aid would lead to the “senseless daily killing of hundreds of thousands of Russians and Ukrainians.”
Kiev’s Western backers froze around $300 billion in Russian central bank assets after the conflict escalated in 2022, most of it held in the EU. A dispute has since emerged between the nations that seek to use the assets as collateral for a ‘reparations loan’ for Kiev, and those that oppose it. EU members are set to vote on the plan next week.
Fico, a long-time opponent of the scheme, detailed his stance in a letter to European Council President Antonio Costa earlier this week. In an X post on Friday, he wrote that he later spoke with Costa and reiterated his opposition to arming Kiev. Fico said he warned that continued funding would prolong the conflict and raise the death toll, while Costa “spoke only about money for the war.”
“If for Western Europe the life of a Russian or a Ukrainian is worth s**t, I do not want to be part of such a Western Europe,” Fico said. “I will not support anything, even if we have to sit in Brussels until the New Year, which would lead to support for Ukraine’s military expenditures.”
Some EU states have raised concerns over the loan scheme, citing the legal and financial risks. According to Politico, Italy, Belgium, Bulgaria, and Malta urged the European Commission on Friday to explore alternatives to seizing the assets, such as an EU loan facility or bridge mechanisms. Hungary, Germany, and France have also expressed objections.
The European Commission approved controversial legislation on Friday that could keep Russian assets frozen indefinitely, framing the issue as an economic emergency rather than a sanctions policy. The move is seen as the first step toward advancing the ‘reparations loan’, allowing the commission to enable decisions by a qualified majority instead of unanimity – effectively bypassing vetoes from opposing states.
Moscow has condemned any attempt to use its assets as illegal. Foreign Ministry spokeswoman Maria Zakharova said this week that by pushing the ‘reparations loan’ scheme, Europe is “acting suicidal.” Commenting on Friday’s vote, she called the EU “swindlers.”
