Belgian Prime Minister Bart De Wever, at the beginning of the European summit in Brussels, was critical of the idea of using Russian assets stored in Euroclear in Brussels to pay for aid to Ukraine, UNN reports with reference to De Morgen.
Details
"I am happy to participate in this discussion, but it starts from the very beginning. First, I want to see the legal basis for this decision. On what treaty or legal rule is it based?" he said.
De Wever also remains concerned about the consequences for Belgium if a decision is made at the European level to use these assets. "The risks are enormous. We must all bear them together, otherwise we will not even deal with this," he told VRT NWS. There must be guarantees from all member states regarding the return of funds to Russia when necessary."
Therefore, De Wever primarily hopes that the allies will properly address this issue and share the risks themselves. "Other countries still have significant Russian capabilities. They must move with us, otherwise Belgium will become the sole target of Russian counter-sanctions. We have clearly articulated our conditions. Either they accept this text, or I will do everything possible, politically and legally, European and nationally, to block this decision," De Wever emphasized.
At the same time, according to Swedish Prime Minister Ulf Kristersson, this plan certainly has broad support among the allies.
EU diplomacy chief Kaja Kallas, arriving at the EU summit on October 23, indicated that leaders would discuss a "reparation loan" at the meeting. "There are still some issues that we need to resolve, but I think the main message is that Russia is responsible for the damage caused to Ukraine and must compensate for it. As for frozen assets, we have a reparation loan based on this so that Ukraine can defend itself," Kallas said.
Addition
The European Commission plans to use Russian central bank assets frozen in the Belgian central securities depository Euroclear in response to the war to finance a "reparation loan" for Ukraine.
Previously, the figure of 140 billion euros was mentioned. However, the press learned about a possible additional 25 billion.
According to Vladyslav Rashkovan, Deputy Executive Director from Ukraine at the IMF, the EU's 140 billion euro reparation loan to Ukraine based on frozen Russian assets could provide 40 billion euros (46 billion dollars) of the 60 billion dollars in unmet budget financing needs for Ukraine in 2026-2027, while the remaining 100 billion euros would go to military needs.