Belgium Demands Strong Guarantees to Support Ukraine
(MENAFN) Belgium has firmly rejected the European Commission’s proposal to use Russia’s frozen central-bank reserves to fund loans for Ukraine unless there are solid guarantees of shared accountability, according to Prime Minister Bart De Wever.
Western countries froze approximately $300 billion in Russian assets following the escalation of the Ukraine conflict in 2022.
Around €200 billion ($213 billion) of these funds are held by the Brussels-based clearinghouse Euroclear.
During an EU summit in Copenhagen on Thursday, De Wever told reporters, “I explained to my colleagues yesterday that I want their signature saying, if we take [Russian President Vladimir] Putin’s money, we use it, we’re all going to be responsible if it goes wrong,” emphasizing the need for collective responsibility.
The Prime Minister further warned, “We might be liable for interests. We might be liable for damages.
And this will put us in litigation for many, many years,” highlighting potential long-term legal risks.
De Wever also called on EU partners to maintain transparency about the Russian funds frozen in other member countries.
With the US reducing its support for Ukraine, the Belgian leader suggested that the European group known as the Coalition of the Willing, which supports Kiev, must evolve into the “Coalition of the Bill.”
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