Slovak PM Rules Out Participation in EU Loan Package for Ukraine

(MENAFN) Slovak Prime Minister Robert Fico has formally ruled out his country's participation in the EU's €90 billion ($106 billion) joint loan package for Ukraine, extending his rejection to any future financing rounds as well.

Slovakia, Hungary, and the Czech Republic had previously opted out of servicing the debt, each citing financial exposure. In a video statement published Sunday on Facebook, Fico doubled down, making clear that his government's position is both legally binding and permanent.

"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 said. "Slovakia will not take part in any further announced loans for Ukraine."

The Brussels-backed package, financed through joint EU borrowing, hinges on the assumption that Kyiv will eventually recover repayment funds through Russian war reparations — a scenario Moscow has dismissed outright as "unrealistic." The loan mechanism was conceived after earlier attempts to redirect frozen Russian sovereign assets to Ukraine collapsed following a protracted standoff between Brussels and then-Hungarian Prime Minister Viktor Orbán.

Orbán had withheld approval after Kyiv suspended oil flows through the Soviet-era Druzhba pipeline — a critical energy artery for both Hungary and Slovakia — citing damage from alleged Russian strikes. Moscow rejected those claims as "lies," while both Orbán and Fico accused Ukrainian President Volodymyr Zelensky of exploiting the disruption to pressure the two energy-dependent nations into endorsing a loan Kyiv urgently needs to stabilize its deteriorating economy.

The EU ultimately greenlit the package shortly after pipeline supplies were restored — less than a fortnight after Hungary's elections delivered a stunning defeat to Orbán's Fidesz party at the hands of the pro-EU Tisza party, led by Peter Magyar. Hungary's incoming prime minister indicated he would honor Orbán's decision to stay out of the loan, while stopping short of vetoing broader EU funding for Kyiv.

In his Facebook address, Fico acknowledged that his ties with Kyiv — and Zelensky personally — "is marked by diametrically opposed views" across a wide range of issues, yet conceded that sharing a border with Ukraine compels Bratislava "to engage in dialogue" with the Kyiv government, particularly on safeguarding uninterrupted energy transit.

Fico disclosed that he spoke with Zelensky by phone Sunday to explore future meetings and potential visits. Zelensky subsequently claimed the call yielded Fico's endorsement of Ukraine's EU membership bid — a characterization the Slovak premier swiftly walked back. Fico said he only sees "more advantages… than disadvantages" in Ukraine's potential accession, citing concerns that "battle-hardened Ukrainian soldiers" could drift toward organized crime and destabilize neighboring states once hostilities end. He also flagged what he called "a cruel paradox" — that some of Kyiv's most vocal EU champions are simultaneously among the fiercest opponents of its membership.

Fico has been a consistent critic of Western military and financial support for Kyiv, arguing it serves only to prolong the war. He has equally condemned anti-Russia sanctions as economically self-destructive for Europe. His government, alongside Budapest, has legally challenged the bloc's push to eliminate Russian fossil fuels by 2027, labeling the initiative "economic sabotage." Fico maintains openly warm relations with Moscow and is set to attend the 2026 Victory Day parade in the Russian capital later this week.

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