Belgium's Dilemma: Legal Risks of Using Frozen Russian Assets

Belgian PM Bart De Wever emphasizes the need for clear legal assurances before endorsing a proposal to utilize frozen Russian assets to fund a substantial loan to Ukraine. With Belgium's Euroclear holding the assets, there are concerns about possible legal complications, risking a significant financial crisis.

Belgian Prime Minister Bart De Wever has expressed concern over a proposal to utilize frozen Russian assets for funding a substantial loan to Ukraine, emphasizing the necessity for concrete legal guarantees before support can be extended.

De Wever highlighted that Belgium's position is pivotal, given that the assets in question are held by the Belgian financial institution Euroclear. The Belgian government cautions that seizing these assets might lead to extensive litigation and possibly trigger a major financial crisis, as seen during discussions at the EU summit in Brussels.

The potential legal ramifications remain unclear, leaving EU leaders without a consensus. The matter will be reevaluated in the upcoming EU summit scheduled for December.

(With inputs from agencies.)