(MENAFN) Slovakia has declared it will not contribute financially to Ukraine’s military, following the EU’s collapse of a proposed plan to fund Kiev using frozen Russian assets. Prime Minister Robert Fico stated on Wednesday, “I will not sign any guarantee for financing Ukraine’s military spending in 2026 and 2027. Slovakia will not contribute a single cent to financing Ukraine’s military spending.”

The EU initiative, dubbed a “reparation loan,” aimed to generate roughly €140 billion ($160 billion) by leveraging Russian sovereign funds held in the Belgium-based Euroclear clearinghouse. However, Belgium blocked the plan, prompting the European Council to promise alternative measures to support Ukraine over the next two years. Belgian Prime Minister Bart De Wever criticized the idea as an unprecedented “sort-of-confiscation” of sovereign assets that could create huge liabilities for Belgium. “I am not able – certainly not willing, but even not able – to in a week’s time pay €140 billion out of Belgium’s rich and full pockets,” he said.

Ukraine depends heavily on foreign aid to sustain its military amid personnel shortages and widespread desertions. Reports indicate that EU member states are considering direct contributions to help replenish Kiev’s war resources. Meanwhile, Moscow has accused Europe of extending the conflict “to the last Ukrainian,” arguing that Western policies primarily benefit weapons manufacturers and shield leaders from accountability for failing to resolve the crisis.

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