The summit lasted 16 hours, but due to significant differences, the plan was shelved, and the EU's proposal to utilize Russian assets was not approved

On the 19th local time, EU leaders reached an agreement to provide Ukraine with a loan of 90 billion euros. However, the 16-hour marathon summit in Europe failed to reach a consensus on using frozen Russian assets to raise funds for Ukraine. The New York Times reported on the 19th that this highlights the EU's indecisiveness at a critical moment. As the United States pressures Ukraine to quickly reach a peace agreement, this agreement provides much-needed assistance to Kyiv.

According to AFP on the 19th, after urgent efforts to seek solutions from multiple parties, EU leaders ultimately decided to provide loans to Ukraine over the next two years, guaranteed by the EU's common budget. The originally prioritized plan was to use about 200 billion euros of Russian central bank assets frozen within the EU to fund loans for Kyiv. However, this plan ultimately stalled because Belgium, which holds the majority of the assets, demanded that other countries share the risk, a request that was difficult for other member states to accept. After the summit, Belgian Prime Minister De Croo stated, "The entire plan to use Russian assets is extremely risky, fraught with danger, and raises too many questions." De Croo also mentioned that abandoning the use of these assets helps enhance financial stability.

The New York Times stated that discussions surrounding the plan to use frozen Russian assets took weeks and ultimately ended in failure, which may indicate to the world that the EU's cumbersome structure and diverse voices remain obstacles to swift action. Reuters noted that EU leaders engaged in hours of discussions but ultimately found the loan too complex or politically demanding to resolve at this stage. The Guardian quoted an EU diplomat as saying, "We have shifted from 'saving Ukraine' to 'saving face'—at least for those who have been advocating for the use of frozen Russian assets."

According to Politico on the 19th, the 16-hour summit failed to reach an agreement on transferring frozen Russian state assets to Ukraine, which is a significant setback for European Commission President Ursula von der Leyen and German Chancellor Olaf Scholz, as this was not the outcome they desired. The German newspaper Welt reported on the 19th that the EU summit showcased the divisions and decision-making paralysis among European countries. Amid global tensions, the EU faced another setback. "This giant ship" has not sunk yet, but it seems to be sailing into increasingly difficult waters. French President Macron stated that Europe "needs" to re-engage with Russian President Putin and should find a way to achieve this "in the coming weeks."

According to TASS on the 19th, regarding the current discussions within the EU about funding the Kyiv regime, Russian presidential spokesman Dmitry Peskov stated that Western countries are fixated on prolonging the Russia-Ukraine conflict, and Western officials are not focused on seeking a peaceful resolution but are instead racking their brains to find new funding to continue the conflict.

According to Reuters on the 19th, Putin stated that the EU abandoned the initial plan because it would face serious consequences and damage its status as a safe asset storage location. He said, "It is not appropriate to describe Europe's actions with the word 'theft'... this is daylight robbery." According to AFP on the 19th, the European Union estimates that Ukraine will need an additional €135 billion over the next two years to maintain operations. Spain's El Mundo reported that without this €90 billion, Ukraine could run out of funds by March next year. However, during this summit, the EU has clearly realized that it is in a "new world": the United States under Trump is no longer the ally it once was.

According to the Ukrainian news agency, Zelensky expressed gratitude on social media on the 19th for European aid, stating that it is important for Russian assets to remain frozen. Previously, Zelensky announced that the Ukrainian-American delegation is scheduled to hold a new round of talks in the United States on the 19th and 20th. He expressed hope that Washington could provide more detailed information on the security guarantees available.

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