Slovakia’s Prime Minister Robert Fico (C) walks by Bulgaria’s Prime minister Rossen Jeliazkov (L) and Estonia’s Prime Minister Kristen Michal (R) as he arrives for a European Council meetin, in Brussels on October 23, 2025.
John Thys / AFP
“Do we want to end the war or are we stoking it?,” Robert Fico asks.
The European Union (EU) is considering providing Ukraine with a €185 billion loan financed through frozen Russian assets held mainly in Brussels. However, Slovak Prime Minister Robert Fico has confirmed that he opposes the plan, as does Hungarian Prime Minister Viktor Orbán.
“Do we want to end the war or are we stoking it? We are going to give €140 billion to Ukraine to keep the war going. So what does that mean? That the war will go on for at least another two years,” Fico said.
Belgium has also expressed objections earlier, citing legal concerns and fearing Russian retaliation.
Fico stated that Slovakia “will not take part in any legal or financial program” aimed at using frozen Russian assets to fund Ukraine’s military expenses, arguing that such actions would only prolong the war. The EU’s proposal would convert Russia’s frozen funds into EU bonds, with Ukraine repaying the loan only after receiving war compensation from Moscow.
EU officials say discussions are ongoing and a final decision is expected before the end of the year. Reports suggest the plan has U.S. approval and the European Commission views the use of Russian assets as a crucial step to continue supporting Ukraine’s defense efforts.
