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.

The euro-zone regulator concluded that the Ukraine loan proposal put forward by the European Commission violated its mandate

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