A press conference on "the management of Ukraine's financial needs for 2026-27" will be held with Commission President Ursula von der Leyen and Finance Commissioner Valdis Dombrovskis after today's Commission meeting, the Commission said in a statement.
The EU leadership hopes that the proposal will receive the go-ahead from all EU countries at the upcoming summit in Brussels on December 18.
Belgium, where most of the Russian money is physically held, has strongly opposed the plans, however, out of concern that it could face tough compensation claims from Russia. Prime Minister Bart De Wever has demanded written guarantees from other EU countries that the risk must be shared, and is receiving fresh flanking support from several of his ministers.
"We demand that the risks that Belgium faces as a result of these plans be fully covered," says Foreign Minister Maxime Prévot on his way to a NATO meeting on Wednesday.
"There are several possibilities for financing this. A replacement loan (as proposed by the Commission) is the worst option," says Defense Minister Theo Francken, according to the Ritzau news agency.
