Euroclear

Belgian Prime Minister Bart De Wever will hold talks with German Chancellor Friedrich Merz on the use of frozen Russian assets to support Ukraine. Belgium expresses concerns about legal aspects and potential risks for its taxpayers.

German Chancellor Friedrich Merz canceled a trip to Oslo to persuade Belgium to support a €165 billion "reparation loan" to Ukraine. The loan is proposed to be secured by frozen Russian state assets located in Belgium.

Belgian Prime Minister Bart De Wever blocked an EU plan to provide Ukraine with a 140 billion euro loan. He fears legal and financial retaliation from Russia.

The European Commission is proposing a “reparation loan” of 165 billion euros to Ukraine, using frozen Russian state assets. This loan is part of a broader financial package worth up to 210 billion euros to support Ukraine.

European Commission President Ursula von der Leyen stated that "almost all" of Belgium's concerns regarding a "reparation loan" for Ukraine have been addressed. This concerns the use of frozen Russian assets to finance Ukraine's needs.

The European Commission is proposing a legal solution to avoid Belgium having to pay billions of euros if Hungary vetoes the extension of sanctions against Russia. This would allow €140 billion of frozen Russian assets to be used as a loan to Ukraine.

The European Central Bank has rejected participation in the European Commission's proposal to use frozen Russian assets. This complicates the attraction of a loan secured by the immobilized assets of the Russian central bank.

Belgium is slowing down the EU's decision to transfer frozen Russian assets to Ukraine, fearing legal claims from Russia and undermining trust in its financial institutions. This could also affect peace negotiations with Russia, which might refuse dialogue.

EU countries are increasing pressure on Belgium to unblock 140 billion euros of frozen Russian reserves. Belgium is accused of concealing information about tax revenues received from these assets.

The European Commission is urging Western allies to speed up payments on a $50 billion loan to Ukraine. This comes as Belgium is stalling EU efforts to support Ukraine with a larger financing scheme using Russian assets.

According to the depository's management, this could scare investors in European government debt and lead to countermeasures from the Russian side.

An EU loan of 140 billion euros, which Ukraine may receive, backed by frozen Russian assets, does not pose a threat to the sovereign ratings of EU countries. Leading rating agencies S&P and Fitch stated minimal risks for EU members, despite concerns about possible Russian lawsuits.

European diplomats and officials are expressing outrage over a new US peace plan that could derail efforts to provide financial assistance to Ukraine. Trump's proposed plan involves using frozen Russian assets to rebuild Ukraine after a truce, which contradicts EU plans to use these funds for a loan to Kyiv.

US President's envoy to NATO, Matthew Whitaker, calls on European allies to take a more aggressive stance on Moscow and use frozen Russian assets to finance Ukraine. This move would provide support to Ukraine for years and signal a new, bolder phase in European politics.

European Commission President Ursula von der Leyen sent a letter to EU leaders assessing Ukraine's funding needs for 2026-2027. This amount is 135.7 billion euros, based on the assumption that the war will end in 2026.

The European Commission has offered Belgium significant guarantees regarding a €140 billion loan to Ukraine to protect it from the legal and financial consequences of using Russian assets. EU countries are ready to assume the risks of Russian retaliation, including those arising from bilateral investment treaties.

The European Union has offered Ukraine €90 billion in funding in the form of a grant or a loan backed by EU debt. This will happen if countries fail to approve the desired plan to use frozen Russian assets.

European Commission President Ursula von der Leyen announced the possibility of issuing joint EU debt to support Ukraine. This will happen if the plan to use frozen Russian assets fails due to Belgium's blocking.

Norway is considering supporting the EU's plan to use frozen Russian assets for Ukraine. However, the country will not use its sovereign wealth fund as the sole financial support.

Belgium has sought assistance from allies after a series of drone incursions near airports, military bases, and nuclear power plants. Officials say the incidents "resemble" Russian actions, but there is no direct evidence yet.

The European Union will discuss two main ways to raise financial support for Ukraine: borrowing or using frozen Russian assets. EU finance ministers are meeting in Brussels after pledging to cover Ukraine's needs in 2026-2027.

The European Commission proposes to permanently freeze Russian assets in the EU and use the proceeds to finance Ukraine. Rejection of this plan could lead to annual EU expenditures of 5.6 billion euros, affecting the deficit and debt of individual states.

Representatives of the EU and the Belgian government have not reached an agreement on the use of frozen Russian assets to finance Ukraine. Belgium demands legal guarantees and fears lawsuits, while the EU insists on a plan to use 140 billion euros.

German Defense Minister Boris Pistorius suggested that drone sightings over Belgium could be related to discussions about the use of frozen Russian assets. Belgium holds 183 billion euros in Russian assets, which constitutes the majority of all Russian state assets in the EU.

Former NATO Secretary General Anders Fogh Rasmussen stated that Ukraine will face an "eternal war" if Europe does not increase pressure on Russia. He called for the deployment of European troops and the establishment of a missile and drone shield on NATO territory to protect Ukraine.

European Commissioner Valdis Dombrovskis stated that the EU must provide Ukraine with "credible" financial commitments to unlock new IMF funds. This would allow for an IMF aid package of approximately $8 billion over the next three years, which is expected in January.

The European Commission is considering covering Ukraine's funding deficit through funds raised from common EU debt and bilateral grants from member states. These options complement the proposal to use immobilized sovereign Russian assets totaling 140 billion euros.

Five Norwegian political parties have called on Oslo to intervene to overcome Belgium's concerns about using frozen Russian assets to finance a €140 billion 'reparations loan' to Ukraine. The Norwegian Prime Minister has ordered a full review of the country's possible participation.

The European Commission and the Belgian government will meet to overcome the political deadlock regarding the use of frozen Russian assets. Belgium is in no hurry to approve the plan due to fears of financial and legal risks, demanding guarantees and risk sharing with other EU countries.

The European Commission confirmed the commitments made at the EU summit to meet Ukraine's financial needs in 2026 and 2027, continuing work, including on a "reparations loan. " The issue will be discussed again at the European Council in December, after the Belgian Prime Minister blocked the use of frozen Russian assets at the October summit.