Zelenskyy confident EU will resolve Ukraine loan issue
The European Union will be able to find an alternative solution to provide Ukraine with funds for financing the army if the agreed-upon reparations loan cannot be unblocked, President Volodymyr Zelenskyy stated, noting that this matter lies entirely within the competence of the European side.
"Providing a loan to Ukraine is a position agreed upon by all EU leaders at the end of 2025. The alternative to this step is a question for the European Union today. We would be grateful if they could unblock this format. If they do not, we hope for an alternative that will allow us to receive these funds; otherwise, the Ukrainian army will be underfunded," Zelenskyy said in an interview with Le Monde, the text of which was posted on the head of state’s Telegram channel on Thursday.
According to him, in such a case, the production of drones would be underfunded: "long-range drones, interceptor drones, as well as air defense systems, because we allocate money from there for both European air defense systems and American PAC-3 missiles."
"This is a risk for everyone. This is a risk for European security. I believe that there will be no collapse and the Europeans will resolve this issue as well," Zelenskyy said.
As reported, on December 18, the EU leaders’ summit approved the provision of EUR 90 billion in financial support to Ukraine for 2026–2027. Ukraine is to receive an interest-free credit through a loan secured by the EU budget.
Later, Hungarian Prime Minister Viktor Orban stated that his country would block the European Union’s adoption of a new sanctions package against Russia and the allocation of the EUR 90 billion EU reparations loan until the Druzhba oil pipeline, damaged during Russian shelling on January 27, is reopened.
Following this, it was reported that Ukraine could receive EUR 30 billion from the Baltic and Northern European countries for its military needs if Hungary and Slovakia continue to block the previously approved EUR 90 billion EU reparations loan. Since these would be bilateral loans, they would not require EU-wide approval.
Separately, Dutch Finance Minister Eelco Heinen announced that his government has provided for the possibility of sending EUR 3.5 billion per year in bilateral support to Kyiv until 2029.
The idea of individual financing for Ukraine by member states was discussed prior to the December summit, where all EU leaders agreed to provide a single EU loan. At that time, the option of individual loans was considered undesirable as it undermined EU solidarity with Ukraine and exposed deep divisions within the bloc. However, if Hungarian leader Viktor Orban refuses to lift the block on the loan, this may be the only way forward.