Belgium's Tough Stance on EU’s Frozen Assets Plan

Belgian Prime Minister Bart De Wever voiced concerns over the EU's plan to use frozen Russian state assets to aid Ukraine, citing potential risks to peace negotiations. Belgium's backing is vital for the plan, as Euroclear holds the targeted assets. EU leaders are pressing for a resolution.

Belgian Prime Minister Bart De Wever has raised significant concerns about the European Union's plan to use frozen Russian assets to fund Ukraine, warning it could jeopardize peace efforts. The assets, held by Belgium's financial institution Euroclear, play a crucial role in the EU's proposed financial strategy.

At a previous summit, EU leaders were unable to secure Belgium's endorsement for a €140 billion loan scheme, primarily due to De Wever's apprehensions. He emphasized in a letter to European Commission President Ursula von der Leyen that hastily adopting the plan might obstruct a future peace settlement.

The European Commission is expected to address these concerns with new legal proposals soon, as the bloc aims to reach an agreement during their December summit. Despite alternatives proposed to bridge Ukraine's financial gap, von der Leyen remains focused on the frozen-assets strategy.

(With inputs from agencies.)