EU leaders ready to extend talks until deal reached on frozen Russian assets

European Union leaders are prepared to continue negotiations beyond their December 18 summit in Brussels to secure an agreement on financing Ukraine through the use of frozen Russian assets, the chair of EU summits, Antonio Costa, said on December 10.

Costa told reporters in Dublin that he is determined to guide the bloc toward a final decision, even if discussions must run for several days, Caliber.Az reports via foreign media.

"For me, it's sure that on the 18th of December we will take a decision. But as I shared with my colleagues, if it's necessary, we will continue on the 19th or the 20th of December – until we reach a positive conclusion," he said.

EU governments, many burdened by high public debt, favour tapping into roughly €210 billion in Russian sovereign assets immobilised in Europe since Moscow’s 2022 invasion of Ukraine to support Kyiv’s defence needs. But the plan faces legal and political hurdles.

Belgium, where most of the frozen assets are held, has sought assurances from other EU countries that they will share any financial liabilities if Russia successfully challenges the measure in court. Costa confirmed that talks on these guarantees are progressing and nearing a breakthrough.

"Now we are working on fine-tuning the legal and technical solution that could obtain the agreement of at least a qualified majority of member states. I think we are very close to obtaining a solution," he said.

EU leaders are expected to finalise negotiations at the upcoming European Council summit, where the issue of liability-sharing with Belgium will be central to reaching a deal for Ukraine funding in 2026 and 2027.

By Sabina Mammadli