The 18 December meeting of EU leaders in Brussels revealed growing divisions within the bloc over support for Ukraine. Plan A—a reparations loan backed by frozen Russian assets—did not happen.
Once again, the EU placed the burden of supporting Ukraine on its own budgets, rather than on the aggressor.
To be clear, given Ukraine’s acute need for funding next year, European partners did not leave the country in a dead end. They agreed to provide €90 billion in support over the next two years through EU borrowing. Importantly, the loan will be interest-free, and Ukraine will repay the credit only once it receives reparations from Russia.
Half measures, again
Yet this decision, regrettably, once again follows the familiar pattern of half measures—enough to keep Ukraine on track, but far from a strong signal to Vladimir Putin that could change his strategic calculus. Time and again, crucial decisions have been delayed or watered down by negotiations, bargaining, and compromise, and as a result have failed to achieve their full potential—whether on sanctions or the provision of certain types of weapons.
Unfortunately, neither Europeans nor Americans have yet grasped that such half measures only encourage Putin to act more boldly.
History will remember how Belgium and its prime minister, Bart De Wever, along with likely several other leaders, decided at the most critical moment that the safety of Russia’s blood-stained money in a European depository was more important than the security of Ukraine and the European continent.
While the current decision seems to leave an open window for future discussions on a reparations loan, in reality those chances are shrinking.
European governments will increasingly face pressure from public opinion and domestic issues. Merz’s ratings are falling, Macron’s support has been low for a while, and the Czech Republic—now led by Andrej Babiš—has joined the “always against” club of Hungary and Slovakia.
Meanwhile, Ukraine is likely to continue facing pressure—from both Americans and Russians—to make harsh concessions.
Mixed messages
Words of solidarity from European partners are nice: “Ukraine, stay strong. We are standing with you.” Yet Europe continues to show that it is willing only to take compromise measures, far from decisive action. This becomes even clearer in light of another piece of news: President Emmanuel Macron has emphasized the need to find a way to restore dialogue with Putin.
The Brussels decision may look good on the surface, with funding secured, but deep down, it hides very worrying signals.
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