The President of the European Commission, Ursula von der Leyen, stated that Belgium's concerns regarding the risks to the country in case of providing a "reparation loan" using frozen Russian assets to finance Ukraine were listened to very carefully and "almost all of them" were taken into account, as she said during a briefing on two proposed solutions to support Ukraine's financial needs in 2026-2027, writes UNN.
We have now had an intensive discussion on Belgium's position, where Euroclear is located, the main source. We have listened very carefully to Belgium's concerns. And we have taken almost all of them into account. In our proposal, which is on the table today, regarding reparation loans. We have very strong guarantees to protect member states and minimize risks as much as possible.
According to her, "for example, to ensure that a legitimate decision taken outside the Union cannot be enforced within the Union." "And very importantly, we have created a very strong solidarity mechanism where ultimately the Union can intervene. Because we want to convince all our member states, but especially Belgium, that one thing is certain. We will share the burden fairly, as is customary in Europe," she emphasized.
"And finally, on the issue of reparation loans, we also seek imitation among Ukraine's friends and international partners," von der Leyen noted.
Addition
Belgium fears Russian retaliation against the state and the financial depository Euroclear, which holds frozen Russian assets. The country's government demanded financial guarantees from EU capitals if Moscow manages to get the money back.
"The text that the European Commission will present today does not satisfactorily address our concerns," Belgian Foreign Minister Hadja Lahbib, quoted by Politico, said on the sidelines of a NATO meeting before the EU proposal was presented. "We have an overwhelming feeling that we have not been heard."