The European Union (EU) is moving closer to a solution to finance Ukraine’s defense against Russia in 2026 and 2027, European Council President Antonio Costa said. The deal would have the support of a qualified majority of member states, he said.
EU leaders pledged on October 23 to fund Kiev over the next two years, while the US contribution is reduced.
Leaders are due to decide how to deliver on their pledge at a summit in Brussels on December 18.
“We are now working on finalising a legal and technical solution that could be agreed by at least a qualified majority of member states. I think we are very close to a solution,” Costa said.
As European leaders struggle to replace US contributions, they are considering using 210 billion euros of Russian state assets frozen in Europe after Moscow’s invasion.
Despite the political will, reaching an agreement on the use of Russian assets will be complicated. Belgium, where the property is located, wants guarantees from other EU members that they will share responsibility for the financial consequences if Russia were to successfully sue Belgium over this plan, DW reports.
