“For Ukraine, this is an all-or-nothing week in terms of financial support“underlined the head of diplomacy of the European Union, Kaja Kallas, at the meeting of foreign ministers of the 27 that is being held this Monday in Brussels.
On the one hand, the Ukrainian president, Volodímir Zelenskicontinues negotiations in Berlin with Donald Trump’s emissaries on an eventual peace plan. The White House pressures kyiv to agree to cede territories to Russia – particularly in the Donbas – in order to close a quick deal at any price.
At the opposite extreme, the European leaders, with a large delegation sent to Berlin and headed by the chancellor himself Friedrich Merzare striving to shield kyiv from Trump’s offensive and strengthen its ability to hold out against Washington’s demands.
“We have to understand that Donbas is not Putin’s final goal. If they get Donbas, then the fortress falls, and then they will undoubtedly advance to take all of Ukraine. And if Ukraine falls, other regions will also be in danger. We know it from history and we should learn from history,” Kallas warned.
The High Representative for Foreign Affairs and Security Policy has applauded the “peace efforts” of the US, but has also made it clear that the EU wants “a ceasefire that lasts and a sustainable peace.” “For sustainable peace, there must be no appeasement of the aggressor. If aggression is rewarded, there will be more“, he claims.
In this sense, Kallas has demanded “security guarantees” to prevent Russia from attacking Ukraine again in the future, and not the other way around. “In the last 100 years, Russia has attacked at least 19 countries, some as many as three or four times. None of those countries have ever attacked Russia, so they don’t need any security guarantees,” he says.
In parallel to the dialogue in Berlin, European leaders are intensifying negotiations to throw a financial lifeline to kyiv that will allow it to continue resisting for the next two years. On Friday, the EU approved to freeze in perpetuity the 210 billion Bank of Russia funds frozen in community territory since the outbreak of the war.
However, the most difficult part of the job still remains: reaching an agreement to send the Russian funds to Ukraine in the form of a ‘repair loan‘, which kyiv would only have to return if Moscow compensates it for war damages. Brussels has proposed a credit of 90 billion to cover 2026-2027.
However, Belgium maintains its opposition to the ‘reparations loan’ because it maintains that it is a confiscation of Russian money and fears becoming a priority target for Kremlin retaliation. The Belgian Prime Minister, Bart de Wever, has managed to obtain the support of other countries such as Italy, Bulgaria and Malta.
The final decision must be made at the summit of European leaders taking place this Thursday, December 18, in Brussels. “We will not leave the meeting before obtaining a result,” said Kallas, paraphrasing the president of the Council, António Costa, who already said that the meeting could be extended until Saturday.
“The most credible option is the repair loan, and that is what we are working on. We’re not there yet, and it’s getting harder.but we are doing the work. We still have a few days,” says the head of EU diplomacy.

The Minister of Foreign Affairs, José Manuel Albares, and his Belgian counterpart, Maxime Prévot, during the meeting this Monday in Brussels
For his part, the Foreign Minister, Jose Manuel Albaressaid that Belgium’s doubts “are legitimate”, but he was convinced that “solutions can be found for it”. “I believe that this does not have to be the obstacle that prevents those resources from being used,” says Albares.
“The reparations loan is based on frozen Russian assets. That means it does not come from our taxpayers’ money, which is also important. And it also sends a clear signal that, if you do all this damage to another country, you have to pay reparations,” Kallas insisted.
Could the EU approve the ‘reparations loan’ with Belgium’s negative vote, given that no unanimity is required but only a qualified majority? “Without Belgium, I think it wouldn’t be very easybecause they have the majority of the assets, and I think it is important that they are on board,” responds the High Representative.