According to Politico, which cites diplomatic sources, the member states of the European Union want to reach agreement by the end of 2026 on a new loan to support Ukraine worth roughly 45 billion euros. A loan guaranteed from the current EU budget is, according to Politico, the most likely way to cover Ukraine's financial needs in 2027.[1][2]
Involvement of Czechia and Slovakia
According to Politico, Czech and Slovak representatives already signalled at the October summit that they would again not take part in the loan. In December 2025 the presidents and prime ministers of the EU countries agreed on a first loan of 90 billion euros; Czechia, Slovakia and Hungary announced at the time that they would not contribute to the guarantees. According to two diplomats cited by the outlet, Hungary is likely to act the same way.[1][2]
Background
After the October meeting in Brussels, Ukrainian President Volodymyr Zelenskyy said that his country would ask partners for a further 70 billion euros for defence. European Commission President Ursula von der Leyen confirmed that this amount will need to be covered next year. The effort to approve a package covering about two thirds of that sum coincides in time with the negotiations on the EU's long-term budget for 2028 to 2034. Politico reports that Ukraine's biggest supporters warned of a lower willingness to back increases in cohesion and agricultural spending if some countries show no solidarity with Kyiv.[1][2]
In recent weeks some member states have again mentioned using frozen Russian assets in Europe; Belgium, where most of them are held, continues to reject this. Talks on the shape of the loan are to take place at an extraordinary EU summit on 26 and 27 November 2026 in Brussels, where the European Commission is to present possible options.[1][2]
Telephone call between President Pavel and Finnish President Stubb
On 28 October 2026, President Petr Pavel spoke by telephone with Finnish President Alexander Stubb. According to the presidential office, they discussed Tuesday's conversation between Stubb and Norwegian Prime Minister Jonas Gahr Støre and Russian President Vladimir Putin, and the prospects of reaching a common European position on possible peace talks. According to Prague Castle, the two presidents agreed on the need to continue negotiations with the participation of all parties concerned in various formats. According to Prague Castle, their outcome must be credible security guarantees for Ukraine and for Europe.[3][4]
Stubb and Støre spoke with Putin by telephone on Tuesday 27 October 2026 about options for ending the war and then informed Ukrainian President Volodymyr Zelenskyy about the content of the call. According to Bloomberg, it was Putin's first direct contact with leading European figures on Kyiv's side since July 2025, when French President Emmanuel Macron spoke with him.[3] According to iDNES.cz, Russian Foreign Minister Sergey Lavrov said that the call brought nothing new.[4]
Danish Prime Minister Mette Frederiksen described her approach to the call as sceptical and said that Stubb and Støre had not consulted the initiative with other partners. The office of the Finnish president said that both Stubb and Støre acted as representatives of their countries, not on behalf of Europe.[3] According to the Czech News Agency, the British website The Telegraph reported that Pavel, Stubb and Støre are among five European leaders considered as the main European negotiators with Putin. The other two are Frederiksen and Italian Prime Minister Giorgia Meloni.[3]
Chronology
- — President Petr Pavel held a phone call with Finnish President Alexander Stubb about his Tuesday conversation with Russian President Vladimir Putin and the prospects for a joint European approach to potential peace talks on Ukraine. ČTK / České noviny iDNES.cz
- — According to Politico, EU member states want to reach agreement by the end of 2026 on a new loan to Ukraine worth about 45 billion euros, and Czech and Slovak representatives indicated at the October summit that they again will not take part. ČTK / České noviny Hospodářské noviny
Sources
- ČTK / České noviny
- Hospodářské noviny
- ČTK / České noviny
- iDNES.cz — 28 October 2026