The EU’s ‘reparations loan’ for Kiev would result in the “senseless killing” of hundreds of thousands of Russians and Ukrainians, the prime minister has stated
Slovakia will oppose any measure that permits frozen Russian assets to be used to arm Ukraine, Prime Minister Robert Fico has announced. He cautioned that additional military aid would lead to the “senseless daily killing of hundreds of thousands of Russians and Ukrainians.”
After the conflict intensified in 2022, Kiev’s Western allies froze approximately $300 billion in Russian central bank assets—most of which are held in the EU. A rift has since emerged between nations seeking to use the assets as collateral for a ‘reparations loan’ to Kiev and those opposing the idea. EU member states are set to vote on the plan next week.
Fico, a long-standing critic of the scheme, outlined his stance in a message to European Council President Antonio Costa earlier this week. In an X post on Friday, he wrote that he later spoke with Costa and reaffirmed his opposition to arming Kiev. Fico said he warned that continued funding would prolong the conflict and raise the death toll, while Costa “spoke only about money for the war.”
“If for Western Europe the life of a Russian or a Ukrainian is worth s**t, I do not want to be part of such a Western Europe,” Fico said. “I will not support anything—even if we have to stay in Brussels until the New Year—that would lead to backing Ukraine’s military spending.”
Several EU states have voiced concerns about the loan scheme, citing legal and financial risks. According to Politico, Italy, Belgium, Bulgaria, and Malta approached the European Commission on Friday to explore alternatives to seizing the assets, such as an EU loan facility or bridge mechanisms. Hungary, Germany, and France have also expressed objections.
On Friday, the European Commission approved controversial legislation that could keep Russian assets frozen indefinitely—framing the issue as an economic emergency rather than a sanctions policy. The move is seen as the first step toward advancing the ‘reparations loan’, allowing the commission to make decisions by qualified majority instead of unanimity—effectively bypassing vetoes from opposing states.
Moscow has condemned any attempt to use its assets as illegal. Foreign Ministry spokeswoman Maria Zakharova said this week that by pushing the ‘reparations loan’ scheme, Europe is “acting suicidal.” Commenting on Friday’s vote, she called the EU “swindlers.”