EU Parliament fast-tracks EU Reparations loan legislation for Ukraine
By agreeing to use its urgency procedure, lawmakers moved to fast-track work on draft legislation that would create a new European Union lending framework designed to help cover Ukraine’s immediate and longer-term financial requirements.
The plan would allow the European Commission to secure financing by borrowing against profits and available cash generated from Russian state assets that have been frozen within the EU.
Funds from the proposed loan would be directed toward sustaining Ukraine’s national budget, strengthening its military capacity, supporting its defense manufacturing sector, and advancing the country’s integration into the European Defense Industrial Base.
Following the decision to accelerate the process, the parliament is expected to formally adopt its negotiating position during its next plenary sitting, scheduled for January 19–22, 2026. This would set the stage for talks with EU member states.
Approval from national governments is also required. EU leaders are expected to examine the proposal during a European Council meeting in Brussels on December 18–19, where they will consider how to proceed.
If heads of state and government give their backing at that summit, the European Parliament could move to grant final approval during its January plenary session.
Roughly €210 billion (about $246 billion) in Russian assets remain frozen across the European Union, and the bloc has proposed using income derived from those holdings to assist Ukraine. A significant portion of these assets is held by the Belgian financial institution Euroclear, and Belgium has repeatedly expressed reservations about the plan.
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