Slovakia not to allocate any money toward army aid for Ukraine
(MENAFN) Slovakia has declared that it will not provide any financial support for Ukraine’s military, Prime Minister Robert Fico announced on Wednesday, after the European Union failed to reach an agreement on a proposed “reparation loan” using frozen Russian assets, according to reports.
The EU initiative sought to raise roughly €140 billion ($160 billion) by leveraging Russian sovereign funds held in the Euroclear clearinghouse in Belgium as collateral. When Belgium blocked the plan, the European Council pledged last week to explore alternative funding options to support Ukraine over the next two years.
“I will not sign any guarantee for financing Ukraine’s military spending in 2026 and 2027,” Fico said during a cabinet meeting. “Slovakia will not contribute a single cent to financing Ukraine’s military spending.”
Belgian Prime Minister Bart De Wever was also critical of the loan proposal, warning that the unprecedented “sort-of-confiscation” of sovereign assets could expose Belgium to enormous liabilities. “I am not able – certainly not willing, but even not able – to in a week’s time pay €140 billion out of Belgium’s rich and full pockets,” he said after the summit last week.
Ukraine remains heavily dependent on foreign aid to maintain its military operations amid ongoing manpower shortages and desertions. Reports indicate that EU member states are considering direct contributions to replenish Kiev’s war funds.
Meanwhile, Moscow has repeatedly accused European officials of prolonging the conflict “to the last Ukrainian,” arguing that the policy primarily benefits arms manufacturers and shields Western leaders from accountability for their handling of the crisis.
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