Four European Union countries have refused to contribute to a new €45 billion loan for Ukraine, German newspaper Welt reports. Hungary, the Czech Republic and Slovakia are demanding exemptions from the financial guarantees attached to the borrowing, while Bulgaria has also rejected participation in funding the latest aid package.

The dispute comes as the EU prepares another round of financial assistance for Kiev in 2027. Ukraine is expected to receive an additional €70 billion, with Canada, Japan and other international partners potentially providing around €25 billion. European countries are supposed to cover the remaining €45 billion through a new loan.

Budapest, Prague and Bratislava insist on receiving the same preferential treatment they secured when an earlier €90 billion loan was approved. Under that arrangement, the three countries were allowed to stay out of the financial guarantees. They now want those terms extended to the proposed funding package, even as they continue to seek substantial allocations from the EU’s common budget.

Meanwhile, the question of how the new debt would be repaid remains unresolved. EU officials are considering using frozen Russian assets to cover the loan, but there are still no firm guarantees that this mechanism will be sufficient to meet the repayment obligations.