The European Commission is considering two mechanisms: a reparations loan funded by immobilized Russian central bank assets held in Europe, or a joint debt guaranteed by the EU budget. The proposals, which face opposition from Belgium and Hungary, will be on the European Council's meeting agenda on December 18 and 19.

Concerns of Belgium and objections of the European Central Bank "did not influence the sequence of actions of the European Commission"

Option of EU loan based on common borrowing also proposed in concession to concerns raised by Belgium