European Commission President calls for urgent decision on Ukraine funding

European Commission President Ursula von der Leyen has called on European Union leaders to urgently agree on critical financial support for Ukraine, emphasizing that a decision must be reached at this week’s EU summit in Brussels. Speaking to the European Parliament on Wednesday, von der Leyen stressed the importance of providing reliable financial aid for Ukraine over the next two years as the country continues to face severe challenges in its conflict with Russia.

Heads of state and government are meeting Thursday and Friday to discuss various options for sustaining aid to Ukraine, including a proposed common loan and a recovery fund. However, the Commission has been unable to persuade Belgium, where most frozen Russian assets are held, to back the plan due to concerns over potential financial and legal repercussions. The debate has been further complicated by the need for unanimous approval among EU countries for joint loans, while decisions on using funds generated by frozen assets require only a qualified majority.

Von der Leyen highlighted the significance of last week’s legislative move to indefinitely freeze Russian assets, noting that it eliminates the need for repeated unanimous votes and weakens the threat of vetoes, such as those previously posed by Hungary. The European Commission aims to provide around one-third of Ukraine’s projected financial needs for 2026 and 2027—roughly €90 billion out of the €137 billion estimated by the International Monetary Fund. Von der Leyen made clear that ensuring steady support is vital for Ukraine’s recovery and long-term stability.