Portugal backs using frozen Russian assets for Ukraine, understands Belgian concerns
7 Articles
7 Articles
The Portuguese Minister for Foreign Affairs, Paolo Rangel, confirmed that his country supported the use of frozen Russian assets to assist Ukraine.
The Belgian government opposed the initiative to withdraw frozen Russian funds from the Euroclear depository under the direct management of the European Union for their further confiscation in favor of Ukraine. 12 September 2026
Portugal backs using frozen Russian assets for Ukraine, understands Belgian concerns
Portugal supports using frozen Russian assets to aid Ukraine but understands Belgium's demand for EU-wide guarantees against potential financial risks, Foreign Minister Paulo Rangel said.
Brussels is looking for a legally viable model for using frozen Russian money as Ukraine faces a $27 billion deficit.
A number of EU countries, led by Germany, are increasing pressure on Belgium to seek its consent to the use of frozen Russian assets to support Ukraine, and, as Politico writes with reference to European diplomats and officials, Brussels is in fact being asked to choose between a new scheme with Russian funds and the financing of Kiev directly from the EU's total budget.
However, Lisbon understands Belgium's concerns about the risks and waits for a joint EU decision
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