Slovakia opposes reparations loan for Ukraine

Slovak Prime Minister Robert Fico has announced that Slovakia will not support a proposed reparations loan for Ukraine that would use frozen Russian assets as a source of funding.

He sent a letter to European Council President António Costa and read it aloud to Slovak officials.

“At the upcoming European Council meeting, I will not support any decision that provides funding for Ukraine’s military expenses,” Fico said, adding that he “consistently supports” peace initiatives and referenced recent efforts by U.S. President Donald Trump.

Fico cited Slovakia’s difficult financial situation as a key reason the country cannot join the European Commission’s plans to cover Ukraine’s recovery costs. 

He added that his “peace policy” prevents him from backing measures that he believes “prolong the conflict,” arguing that allocating billions of euros to defense only drags out the war.

“Not to mention that using frozen Russian assets could undermine U.S. peace efforts, which rely directly on these resources for Ukraine’s reconstruction,” the letter said.

Despite this, Slovakia continues to provide humanitarian aid to Ukraine, holds joint government meetings, and supplies electricity and gas in reverse flow, even at a financial loss due to the halted gas transit through Ukrainian territory, Fico said. 

He also highlighted infrastructure projects and noted that nearly 200,000 Ukrainian refugees are currently in Slovakia.

Fico stressed that Slovakia “clearly supports” Ukraine’s accession to the European Union.

Meanwhile, Russia has threatened the EU with legal action over proposals to use Kremlin-held assets for Ukraine, according to Reuters. The Russian central bank declared such plans illegal and said it reserves the right to use all available measures to protect its interests.