The European Commission is still trying to convince Belgian Prime Minister Bart De Wever to support the proposed loan to Ukraine, financed by immobilized Russian assets held in Euroclear in Belgium, EU economic chief Valdis Dombrovskis said late Tuesday, UNN reports with reference to Euractiv.
Details
One day before a key European summit in Brussels, De Wever has not yet expressed his support for the plan, warning of risks to the Belgian economy if Russia tries to reclaim the assets, most of which are held in the country.
EU ambassadors, who met late on Tuesday to agree on the guarantees demanded by Belgium, saw no signs of movement from De Wever's diplomats, according to several sources familiar with the negotiations. They will meet again on Wednesday, expecting that only the bloc's leaders can now make a decision.
We are working with the Belgian authorities to address their concerns and provide additional guarantees, in a sense ensuring compliance with the already strong guarantees that exist in the European Commission's initial proposal.
Asked if the European Commission could proceed without Belgium's support, Dombrovskis declined to speculate. "I would not go into hypothetical scenarios," he said, adding that the European Commission's proposals are already "quite far-reaching."
Under EU rules, a so-called reparations loan does not require Belgium's consent. A qualified majority - at least 15 countries representing 65% of the bloc's population - would be sufficient for approval at this week's summit.
However, resistance is growing, and EU diplomats and officials are increasingly concerned about the political cost of pushing the plan through despite Belgium's objections, the publication writes.
The Czech Republic, Italy, Malta, Bulgaria, Hungary, and Slovakia have expressed skepticism, although most EU capitals continue to support the scheme.
European Council President António Costa said he was aiming for "at least" a qualified majority, warning that negotiations could last up to three days.
Ukraine has dismissed Belgium's concerns as unfounded, arguing that the mentioned risks are not plausible and reflect Russian propaganda, the publication notes.