Russian invasion The world's response

EU leaders: We won't leave until we have a solution

Now we are here, and we won't leave until we have an agreement. That's what several EU leaders who arrive for the summit in Brussels on Thursday morning say.

The key issue is the future support for Ukraine, and whether the frozen Russian assets can be used for a multi-billion euro loan.

EU Council President António Costa has threatened to keep the heads of government for days if necessary. Similar statements come from Commission President Ursula von der Leyen.

- We will not leave here without a solution for how we can support Ukraine.

Swedish Prime Minister Ulf Kristersson calls the summit "the most important since the war in Ukraine began in 2022".

- I will stay all night if necessary, he tells Reuters.

Ukraine wants information on frozen funds before the New Year

Before the end of the year, the EU should decide whether Ukraine should receive loans with frozen Russian assets as collateral. This is what President Volodymyr Zelenskyj said during an EU summit in Brussels, according to AFP.

The country faces a deficit of up to 50 billion euros in foreign aid next year, and without funding, drone production will have to be significantly reduced. Zelenskyj says he has had good talks with Belgian Prime Minister Bart De Wever, and adds:

- I understand the risks he faces, but we face greater ones.

The majority of the assets are stored at the Belgian securities central Euroclear. The country therefore opposes the loan plan in order not to be subject to Russian retaliation. Yesterday, The Guardian reported that Russian intelligence had threatened Euroclear executives.

Information: Germany to use Russian money

Germany agrees to use frozen Russian assets for Ukraine. This is reported by sources for the German news agency DPA according to Bild.

It is a concession to Belgium, where most of the frozen Russian assets are located. They want European countries to share the risk of Russian retaliation.

EU discussions on the frozen Russian funds are in full swing in Brussels on Thursday. The talks are about providing loans to Ukraine with the money as collateral.

Germany has long opposed the proposal, citing the fact that it could deter the world from using EU financial services. They have seen the frozen funds as a means of putting pressure on Moscow, but have now swung after the US reduced support for Ukraine.

Economist: A Christmas fund would show that the EU is serious

As Ukraine heads into its fourth Christmas under Russian invasion, talks about how the country's defense should be financed are strained in Brussels. On DN Debatt, economist Daniel Waldenström presents an alternative way to help Ukraine.

He proposes that the EU create a fund by borrowing 400 billion euros for future Ukraine support. The sum is twice as large as has been promised so far and would last four years, corresponding to 0.5 percent of the EU's GDP. He estimates that the loans will take 20 years to pay back and that the EU fee will be increased by 0.1 percent until then.

"An EU-wide Christmas fund for Ukraine is probably the fastest way to stop Russian expansion. It would show that Europe is serious about defending both Ukraine and itself."