Belgium

Ukrainian President Volodymyr Zelenskyy has arrived in Brussels for the EU summit. The summit will address the issue of financing Ukraine and the use of frozen Russian assets.

Volodymyr Zelenskyy stated that the issue of using frozen Russian assets for Ukraine's needs depends on the political will of partners. The President noted that these funds could be directed to support the Ukrainian army and defense production.

At Thursday's EU summit, leaders will try to persuade Belgium to agree to the use of frozen Russian assets to finance Ukraine. This is the EU's last chance to greenlight a proposal to raise 210 billion euros from Russian assets.

EU diplomats are trying to find a compromise on financial aid to Ukraine ahead of the bloc's leaders' summit. Options being considered include a loan based on frozen Russian assets or joint EU debt.

Russian intelligence organized a campaign to intimidate Belgian politicians and Euroclear top managers to block the use of frozen Russian assets for the benefit of Ukraine. The attack targeted key Euroclear officials, where most of Russia's frozen assets are held.

German Chancellor Friedrich Merz emphasized the importance of the EU's plan to use frozen Russian assets to finance Ukraine's defense. This will increase pressure on Putin and accelerate the end of the war, despite some countries' fears of possible reprisals.

Orban announced that Moscow was preparing a "harsh response" to the EU's decision on the use of frozen Russian assets. He stated that he had personal communication with Vladimir Putin.

European Council President António Costa stated that the EU will not impose a reparation loan for Ukraine at the leaders' summit if Belgium opposes it. This is a departure from his previous position, where he noted that the scheme only required a qualified majority.

European Commission President Ursula von der Leyen announced the possibility of financial support for Ukraine through the issuance of joint EU debt, as an alternative to using frozen Russian sovereign assets. This comes ahead of a meeting of EU leaders where ways to finance Ukraine will be discussed amid its expected deficit of 135 billion euros by 2027.

Rating agency Fitch has placed Euroclear Bank's ratings on Rating Watch Negative due to EU plans to use frozen Russian assets for a 'reparations' loan to Ukraine. This could lead to increased legal and liquidity risks for Euroclear.

The European Commission is trying to persuade Belgian Prime Minister Bart De Wever to support a proposed loan to Ukraine, financed by immobilized Russian assets. De Wever expresses concerns about the risks to the Belgian economy if Russia tries to reclaim the assets.

The EU leaders' summit on Thursday will test whether the bloc can hold together or whether US President Donald Trump can divide it. Officials of the Trump administration have been pushing European governments to reject a plan to use 210 billion euros of Russian assets to finance Ukraine.

The Latvian government will allocate 2. 42 million euros to strengthen the protection of Riga Airport from unauthorized drone flights. The project envisages the introduction of modern technologies for detecting, identifying, tracking and neutralizing drones.

The US President called the bloc's members 'weak', but joint action on funding for Ukraine would send a 'very strong signal', according to Kaja Kallas.

Ukrainian Foreign Minister Andriy Sybiha named five reasons why this step must be taken now.

Belgium opposed the European Commission's proposals to unblock a €210 billion loan for Ukraine, financed by frozen Russian assets. This dashes the EU's hopes for a deal before the leaders' summit, as Belgium considers the guarantees provided insufficient.

President Volodymyr Zelenskyy stated that frozen Russian assets totaling up to $210 billion are a financial security guarantee for Ukraine. He presented two scenarios for their use: for post-war reconstruction or for annual financial assistance of 40-45 billion euros for the Armed Forces of Ukraine in case of continued aggression.

EU ambassadors in Brussels today are discussing the European Commission's amendments to the reparations loan proposal for financing Ukraine. These amendments aim to address the concerns of Belgium, as well as Italy, Bulgaria, and Malta, who are calling for alternative options.

EU diplomacy chief Kallas said that EU leaders will discuss financing Ukraine at Thursday's meeting, where a reparation loan is the most likely option. This loan will be based on frozen Russian assets, avoiding the use of taxpayer money.

The European Union is facing a critical week as it tries to protect Ukraine from an unfavorable peace deal imposed by the US and Russia, and to save a multi-billion euro loan financing agreement for Ukraine. EU leaders will meet with Ukrainian President Volodymyr Zelenskyy and American officials in Berlin to discuss a peace deal, and will also fight for support for the lending plan among European governments.

Hungarian Prime Minister Viktor Orban criticized the EU's initiative to use frozen Russian assets, calling it dangerous and equating it to a declaration of war, and also accused European leaders of a misguided financial approach to supporting Ukraine.

Italy, Belgium, Malta, and Bulgaria have opposed the EU's plan to transfer 210 billion euros of frozen Russian assets to Ukraine. They are calling on the European Commission to consider alternative options for financial assistance, such as joint EU debt.

The Belgian central securities depository Euroclear may compensate for the seizure of its assets in Russia at the expense of frozen Russian funds in the EU. This was a response to a lawsuit filed by the Russian Central Bank regarding alleged damages.

The European Commission is ready to include the guarantees that Belgium is demanding for the use of immobilized assets of the Russian central bank. This will allow Ukraine to be provided with a "reparation loan" to compensate for war damages.

The Central Bank of the Russian Federation has filed a lawsuit against the Belgian depositary Euroclear regarding frozen Russian assets. The lawsuit will be heard in the Moscow arbitration court, where the central bank accuses Euroclear of causing damage due to the inability to dispose of funds and securities.

The European Union is developing strategies to persuade Belgian Prime Minister Bart De Wever to support the allocation of 210 billion euros to Ukraine. If Belgium continues to block the plan, it may be ignored at the EU level, similar to Hungary.

Belgian Prime Minister Bart De Wever does not rule out legal action if the EU decides to seize Russian assets in Euroclear, emphasizing that the risks cannot be borne solely by Belgium. He considers confiscation a radical and ill-considered step, proposing other options for financing aid to Ukraine.

ECB President Christine Lagarde stated that the new EU proposal on using frozen Russian assets to support Ukraine is the most compliant with international law. EU leaders are discussing the involvement of 210 billion euros of Russian sovereign assets frozen in Europe.

US sanctions against Russian oil giants Lukoil and Rosneft, which came into force on November 21, could cause a structural reorganization of the global oil sector. This will lead to the forced sale of assets and the redistribution of ownership of fields and refineries around the world.

The President of the European Council, António Costa, is confident that a decision on financing for Ukraine for 2026-2027 will be made at the December EU summit. He noted that the bloc is "very close to reaching a decision" amid the proposal of two options: a "reparations loan" or EU borrowing.