The European Commission is struggling to overcome concerns about the financial and legal risks the move could entail, especially from Belgium, where most of the frozen assets are housed. A meeting between EU and Belgian officials failed to find a deal on Friday, Euronews reported.
Views on whether the funds should be used for military costs also vary across the bloc.
Slovakia’s Fico has a track record of opposing the EU’s moves against Moscow and taking advantage of the leverage. He has threatened many times to block EU sanctions against Russia, trading his potential veto for concessions on other issues.
The EU plans to ensure the loan to Ukraine through EU countries’ guarantees and, in a second step, through a guarantee in the next EU budget, which would require unanimity. But other options, such as direct grants to Ukraine, are considered even less politically feasible.
EU leaders are set to discuss the issue at their December meeting.