Its leaders EU they asked the European Commission to explore ways of financing it Ukrainian over the next two years, according to the final text of the conclusions, without however mentioning a loan based on the frozen Russian assets.

Specifically, the paragraph on meeting Ukraine’s financial needs, after several hours of deliberation, was formulated as follows in the final text of conclusions: “The European Council is committed to addressing Ukraine’s pressing financial needs for the period 2026-2027, including its military and defense efforts. The European Council therefore calls on the Commission to present, as soon as possible, options for financial support based on an assessment of Ukraine’s financial needs and calls on the Commission and the Council to move forward with the European Council returning to this issue at its next meeting. Subject to EU law, its assets of Russia they should remain frozen until Russia stops its war of aggression against Ukraine and compensates it for the damages caused by its war.”

This paragraph is deliberately worded in very general terms to take account of Belgium’s strong reservations on the matter.

The European Union has postponed until December a decision on whether to use frozen assets of the Russian central bank to help Ukraine after Belgium asked for greater guarantees that it would not be held responsible for the risks associated with the 140 billion euro loans, Bloomberg reported, citing unnamed sources.

Detailed points of the final text of conclusions:

1. The European Council held an exchange of views with Volodymyr Zelensky, President of Ukraine.

2. Recalling its previous conclusions, the European Council reaffirms its continued and unwavering support for the independence, sovereignty and territorial integrity of Ukraine within its internationally recognized borders. The European Union will continue to provide, in coordination with like-minded partners and allies, comprehensive political, economic, humanitarian, military and diplomatic support to Ukraine and its people.

3. Despite ongoing diplomatic efforts by the US and Europe to achieve peace and Ukraine’s willingness to pursue it, Russia has intensified missile and drone attacks against Ukraine, targeting in particular civilians and civilian infrastructure, thus demonstrating Russia’s lack of real political will to end the war and engage in meaningful peace talks. The European Council calls again on Russia to agree to a full, unconditional and immediate ceasefire, which Ukraine accepted in March 2025, and reiterates the European Union’s support for a comprehensive, just and lasting peace in Ukraine, based on the principles of the United Nations Charter and international law. In this context, the European Council recalls the principles established on March 6, 2025, which should guide the peace negotiations.

4. The European Union and its Member States will continue to contribute to peace efforts, in particular through the Alliance of the Willing and in cooperation with the United States, as well as by stepping up their global actions, in line with the European Union’s goal of promoting peace, as enshrined in the Treaties.

5. A Ukraine capable of effective defense is an integral part of any future security guarantees. The European Union and the Member States are ready to contribute to strong and credible security guarantees for Ukraine, in particular by supporting Ukraine’s ability to deter aggression and defend itself effectively, based on their respective competences and capabilities and in accordance with international law. In this context, the European Council welcomes the ongoing work to review the mandates of the European Union Advisory Mission to Ukraine (EUAM Ukraine) and the European Union Military Assistance Mission in Support of Ukraine (EUMAM Ukraine). Member States are committed to contributing to the training and equipping of the Ukrainian armed forces. The European Council underlines the importance of stepping up support to Ukraine, in line with the EU’s and Ukraine’s shared security commitments.

6. The European Council underlines the critical need to ensure that Ukraine remains resilient and has the fiscal and military means to continue to exercise its inherent right to self-defense and counter Russian aggression.

7. The European Union will continue to provide Ukraine with regular long-term financial support, in cooperation with like-minded partners and allies. In 2025, the European Union has allocated EUR 20.5 billion to Ukraine’s budget, of which EUR 6.5 billion has been disbursed under the Ukraine Facility and EUR 14 billion under the G7 ERA initiative, which is being repaid from windfall profits from frozen Russian assets. Since the start of Russia’s war of aggression, the European Union and its member states have provided €177.5 billion in support of Ukraine and its people.

8. The European Council commits to address Ukraine’s urgent financial needs for 2026-2027, including its military and defense endeavours. Therefore, the European Council calls on the Commission to present, as soon as possible, options for financial support based on an assessment of Ukraine’s financial needs and calls on the Commission and the Council to advance the work so that the European Council can return to this issue at its next meeting. Without prejudice to EU law, Russian assets should remain frozen until Russia ends the war against Ukraine and compensates the latter for the damages caused by the war.

9. The European Council emphasizes the need for Member States to continue to step up their efforts to address Ukraine’s urgent military and defense needs, in particular with regard to air defense and anti-drone systems and large-caliber ammunition. It is vital to accelerate work to further support, develop and invest in Ukraine’s defense industry, including through the establishment of Ukrainian defense production in Member States, and to deepen its cooperation and integration with the European defense industry, leveraging Ukraine’s unique experience and know-how.

10. All military support as well as security guarantees for Ukraine shall be provided with full respect for the security and defense policy of certain Member States and taking into account the security and defense interests of all Member States.

11. The European Council condemns Russia’s intensified attacks against Ukraine’s energy sector, in particular against natural gas production, which jeopardize the safety and security of the Zaporizhia nuclear power plant. It calls for every possible effort to urgently cover the immediate needs arising from the attacks and to strengthen Ukraine’s winter preparedness. The European Union and its Member States, in cooperation with their partners, will intensify the provision of humanitarian aid to Ukraine.

12. The European Union is determined to maintain and intensify its pressure on Russia to stop its brutal war, including through the imposition of further sanctions. In this context, the European Council welcomes the approval of the 19th sanctions package. The European Council also underlines the importance of further coordination with G7 partners on sanctions and strengthening anti-sanctions circumvention measures.

13. The European Council calls for further measures to disrupt the operation of Russia’s shadow fleet. It calls in particular for the significant environmental and security risks posed by the shadow fleet to be effectively addressed, notably through strengthening the enforcement of environmental and maritime safety standards and strengthening cooperation with Flag states. To this end, the European Council calls on the Member States to coordinate their actions.

14. The European Council unequivocally condemns the support provided by third countries, as well as bodies and entities therein, which allow Russia to continue its war of aggression against Ukraine. The European Council condemns the continued military support provided by Iran, Belarus and North Korea. It calls on all countries to immediately stop any direct or indirect aid to Russia in its war of aggression against Ukraine.

15. The European Council urgently calls on Russia and Belarus to immediately ensure the safe return to Ukraine of all Ukrainian children and other civilians illegally deported and transferred to Russia and Belarus.

16. The European Council reaffirms the EU’s strong commitment to ensure full accountability for war crimes and the most serious crimes committed in connection with Russia’s invasion of Ukraine.

17. The European Council reaffirms the EU’s unwavering support for Ukraine towards EU membership and welcomes the significant progress achieved so far by Ukraine under the most difficult circumstances. The European Council encourages Ukraine, the Council and the Commission to advance work on the accession process.

18. The European Council will return to this issue at its next meeting.