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End-of-year summit in Brussels/ Focus on frozen Russian assets for Ukraine and consultations with representatives from the Western Balkans
2025-12-17 09:01:55 / BOTA
EU heads of state and government meet for two days at the end-of-year summit in Brussels. In focus: Frozen Russian assets for Ukraine and consultations with representatives from the Western Balkans.
At the opening of the summit at 18:00, the agenda initially includes talks with colleagues from the Western Balkan countries. The talks on the Western Balkans will be attended by key representatives from Albania, Bosnia and Herzegovina, Serbia, North Macedonia, Montenegro and Kosovo. In principle, the EU wants to bring the six countries of this region closer together within the union and will encourage them to make more efforts for reforms, so that these efforts can be crowned with membership.
The most advanced in the accession process, according to a recent analysis by the European Commission, is Montenegro. It is expected that this country will conclude negotiations in 2026, if it maintains the pace of reforms. For Albania, it is considered possible that negotiations will be concluded by the end of 2027.
The acute issue of frozen Russian assets in the EU
On Thursday (18.12.2025) the possibility of using frozen assets of the Central Bank of Russia to support Ukraine will be discussed. It is not excluded that the talks will continue until Friday or even longer.
Regarding the frozen Russian assets, Belgium, where these assets are deposited, has played a key role and is reserved. The government has great reservations regarding legal issues and financial risks and fears for the existence of the Belgian Financial Institution Euroclear. The so-called central administrator recently managed around 185 billion euros of the Russian Central Bank and thus the largest part of the total 210 billion euros deposited in the EU.
For Ukraine, financial support is existential.
Failure to agree on these assets could create a difficult situation for Ukraine, because in the second quarter of next year it needs liquid funds. Organizing financial means through the EU in other forms, meanwhile, is considered impossible. This would require unanimous approval from the 27 member states, while Hungary and the Czech Republic have declared their opposition.
The use of the assets of the Central Bank of Russia could be approved by a so-called qualified majority. In the Council of Member States, approval from 15 of the 27 countries, which together account for 65 percent of the EU's population, would be sufficient.
The EU summit is also expected to decide on the signing of the Mercosur free trade agreement, which has been negotiated with Latin American countries since 1999. It is also not entirely clear whether the necessary majority will be reached on this issue./DW
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