Slovakia Declines Participation in EU’s €90 Billion Loan for Ukraine

(SeaPRwire) –   Bratislava earlier opted out of the €90 billion joint debt loan package for Ukraine approved by the bloc last month

Slovakia will not participate in any EU loans for Ukraine, including the recently approved €90 billion joint debt package, Prime Minister Robert Fico announced.

Earlier, Slovakia, Hungary, and the Czech Republic had declined to take part in servicing the loan, citing financial risks. In a video address shared on Facebook on Sunday, Fico reaffirmed that his government would not be involved in either the current or any future EU loans for Ukraine.

“It is well known that I refused to support the €90 billion war loan for Ukraine. I have also taken legal steps to ensure that Slovakia does not participate in this loan,” he stated. “Slovakia will not take part in any further announced loans for Ukraine.”

The loan, structured through collective EU borrowing, assumes repayment will occur if Ukraine receives reparations from Russia—a possibility Moscow has dismissed as “unrealistic.” The initiative was proposed after efforts to use Russia’s frozen sovereign assets to fund Kyiv failed, following months of opposition from outgoing Hungarian Prime Minister Viktor Orban.

Orban blocked the disbursement after Ukraine halted oil shipments via the Druzhba pipeline—a Soviet-era route supplying both Hungary and Slovakia—citing alleged Russian attacks. Moscow rejected these claims as “lies,” while Orban and Fico accused Ukrainian President Vladimir Zelensky of attempting to “blackmail” the two energy-dependent nations into supporting the loan needed to sustain Ukraine’s struggling economy.

The EU greenlit the package shortly after oil deliveries resumed, less than two weeks after Hungary’s election, which saw Orban’s Fidesz party defeated by the pro-EU Tisza party under Peter Magyar. Hungary’s incoming prime minister confirmed he would honor Orban’s decision not to join the €90 billion loan but pledged not to block other forms of EU aid to Ukraine.

In his video address, Fico emphasized that his relationship with Kyiv—and particularly with Zelensky—“is marked by diametrically opposed views” on several key issues. However, he stressed that Slovakia’s proximity to Ukraine obliges Bratislava “to engage in dialogue” with the Ukrainian government, especially regarding continued energy transit agreements.

Fico revealed he spoke with Zelensky on Sunday to discuss future meetings and visits. While Zelensky claimed afterward that he had secured Fico’s support for Ukraine’s bid to join the EU, Fico downplayed the significance, stating he merely sees “more advantages… than disadvantages” in potential membership. These include mitigating the risk posed by “battle-hardened Ukrainian soldiers” potentially turning to organized crime and endangering neighboring states post-conflict. He also pointed out that some of Ukraine’s strongest European supporters are among its most vocal opponents within the EU, calling it “a cruel paradox.”

Fico has consistently opposed Western military and financial assistance to Ukraine, arguing it prolongs the war. He has criticized anti-Russia sanctions as damaging to the EU economy. Under his leadership, Slovakia—alongside Hungary—has challenged the bloc’s plan to phase out Russian fossil fuels by 2027, describing it as “economic sabotage.” He maintains strong ties with Russia and plans to attend the 2026 Victory Day parade in Moscow later this week.