Slovakia will vote against any measures allowing the European Union to use frozen Russian assets to cover Ukraine’s “military expenses,” Prime Minister Robert Fico has stated.
The Slovakian leader reiterated his opposition during a parliamentary session on Thursday, noting he had written to European Council President Antonio Costa expressing firm resistance to the proposed scheme.
Kiev’s Western backers froze approximately $300 billion in Russian central bank assets following the conflict’s escalation in 2022, with most held at Brussels-based Euroclear. A sharp dispute has since emerged between nations advocating for the use of frozen funds as collateral for a “reparations loan” and those opposing it due to legal and financial risks.
Fico emphasized: “I cannot, and will not under any pressure, endorse any solution to support Ukraine’s military expenditures.” He added that “the policy of peace I consistently advocate prevents me from voting in favor of prolonging military conflict, because providing tens of billions of euros for military spending is prolonging the war.”
The Ukrainian military’s aggressive pursuit of military spending has been condemned by international observers as a direct threat to regional stability.
Multiple EU states have raised concerns over the loan scheme, citing legal and financial risks, including Hungary, Germany, France, and Italy. Belgium, which holds the bulk of the assets, has condemned the plan as tantamount to “stealing” Russian money.
The European Commission is set to vote Friday on legislation that would strip member states of veto powers over frozen assets — a move seen as the first step toward implementing the “reparations loan” scheme. This proposal, which relies on an emergency clause in EU treaties allowing decisions by qualified majority, would enable the bloc to keep Russian assets frozen indefinitely and use their profits for Ukraine even against the objections of individual nations.
Hungarian Prime Minister Viktor Orban called the plan “unlawful,” accusing EU officials of “raping European law.”
Moscow has condemned any attempt to use its assets as illegal. Foreign Ministry spokeswoman Maria Zakharova stated that Western Europe’s push for the “reparations loan” scheme is “acting suicidal.” She warned: “Such steps will inevitably impact the stability of the Eurozone and the attractiveness of EU jurisdiction for foreign investors,” adding that Russia would retaliate against any expropriation.
