By Al Ahed Staff, Agencies
Belgian Prime Minister Bart De Wever has sharply criticized a new EU proposal to use frozen Russian sovereign assets to support loans for Ukraine, calling the idea “very unwise and ill-considered.” Speaking to VRT, De Wever said the plan effectively amounts to “stealing” money from Russia’s central bank.
European Commission President Ursula von der Leyen recently suggested using the assets as backing for a large loan package to Ukraine, indicating that the decision might be pushed through with a qualified majority vote—potentially sidestepping Belgium, which hosts most of the frozen funds. Roughly €185 billion [$216 billion] of Russian assets are held in Belgium’s clearing giant Euroclear, exposing the country to significant legal and financial risks.
De Wever warned that Belgium may take legal action if the EU proceeds with a move he believes contradicts the law and endangers Belgium’s position. Von der Leyen’s proposal aims to deliver €90 billion to Ukraine over the next two years, partly through a “reparations loan” that would require institutions holding Russian assets to shift them into a new financial mechanism.
EU leaders are also considering separating the asset freeze from the broader sanctions regime and making it indefinite, a strategy intended to avoid vetoes from countries such as Hungary. Currently, both measures must be renewed unanimously.
Russia has repeatedly warned that any seizure of its assets will trigger retaliation. Foreign Minister Sergey Lavrov said Moscow has already prepared responses and accused Ukraine’s Western allies of resorting to “robbing” Russia because they have exhausted their own resources for supporting Kiev.
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