Belgium Pushes Back Against New Attempt to Use Russian Assets
Belgium says seizing the assets would expose the eurozone to major legal and financial risks as Ukraine seeks more funding, officials said.
- On Tuesday, Belgium blocked an initiative from The European Union to access frozen Russian assets held at Euroclear, rejecting calls to tap into the €210 billion pool to support Ukraine.
- Belgian Foreign Minister Maxime reiterated his country's long-standing opposition, warning that confiscation entails 'very significant risks' and could trigger financial retaliation.
- Kyiv requested help to bridge a €23 billion funding gap for the Ministry of Defence, suggesting The European Union front-load a portion of the €45 billion loan earmarked for next year.
- Sweden, the Netherlands, Spain, and Poland led the push at an informal meeting on Tuesday, though Antonio Tajani insisted that legal objections needed proper addressing.
- The European Commission remains hesitant to draft a new proposal without guaranteed success, as Capitals navigate fraught negotiations over the next budget.
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36 Articles
The idea of using these assets was abandoned last December. The 27 finally joined the option of a €90 billion loan to help Ukraine, guaranteed by the European budget. ...
In the study a mechanism to transfer Euroclear's funds and secure a legal shield to Belgium. Von der Leyen: "Ever more dangerous situation"
Belgium has not changed its position on the use of frozen Russian assets for Ukraine. Maxim Prevo stated the significant risks of their actual confiscation.
The Minister for Foreign Affairs of Belgium, Maxim Prevo, stated that the Belgian Government was opposed to the use of frozen Russian assets to help Ukraine, fearing the financial and legal risks of such a move." I stressed that Belgium's position had not changed over the year.
Belgium reaffirmed its opposition on Wednesday to the use of Russian frozen assets in the European Union to finance aid to Ukraine, stressing that the initiative relaunched by several Member States does not enjoy enthusiastic support among the 27, informs AFP.
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