Belgium Cautions EU on Shared Risk with Frozen Russian Assets for Ukraine Aid
Belgian Prime Minister Bart De Wever stresses the need for EU nations to collectively share the risk of using frozen Russian assets, held primarily in Belgium, as leverage for Ukraine's economic support. With an estimated $153 billion required for Ukraine's 2026-2027 budget and military needs, the plan is to utilize these assets as collateral. However, De Wever warns against solitary action due to potential Russian retaliation.
- Country:
- Belgium
Belgian Prime Minister Bart De Wever has urged European nations to unite in risk-sharing the use of frozen Russian assets to aid Ukraine, as these largely reside in Belgium. The EU plans to leverage these as a $165 billion reparation loan for Ukraine's near-future economic needs.
With Ukraine's budgetary and military necessities projected at $153 billion for 2026 and 2027, the European Commission proposes using Russian-held funds as collateral. De Wever emphasized the importance of collective EU action, warning against isolated decisions due to possible Russian repercussion on Belgium.
Russian officials have criticized this EU strategy, labeling it as 'theft,' while EU Commission President Ursula von der Leyen defended the use of the assets, stressing that it's a strategic loan until Russia fulfills war reparation payments. De Wever is keen to review the legal grounds to ensure EU consensus amid this unprecedented proposal.
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