US EditionBelgium’s Leader Treads Tightrope with EU Partners over Funds for Ukraine
Belgium warns using €193 billion in frozen Russian assets risks legal and financial retaliation amid EU debates on funding Ukraine's military and economic needs.
- On Thursday, Prime Minister Bart De Wever put Belgium at the center of tensions at the EU summit in Brussels over a plan to use frozen Russian assets to fund Ukraine.
- Facing legal and financial vulnerability, Belgium warned that the Russian Central Bank last Friday sued Euroclear and Prime Minister Bart De Wever said the reparations-loan plan raises retaliation risks.
- Brussels-Based Euroclear holds most of the blocked funds, totaling 193 billion euros as of September.
- With Belgium standing firm, EU partners face whether to proceed without De Wever's consent, since no blocking minority has emerged, while German Chancellor Friedrich Merz warned on Monday that failing risks severe EU damage.
- Belgium hosts the EU and NATO headquarters, and Prime Minister Bart De Wever must weigh legal and financial costs against his country's credibility with partners and Ukraine before Sunday.
16 Articles
16 Articles
Europe seeks to mobilise €90 billion for Ukraine through the frozen Russian assets. If the plan is clear, it is already causing tensions. Belgium, the main holder of the funds, fears that the...
When Prime Minister De Wever releases the frozen Russian funds, the remaining EU countries want to offer him a large sum in case Belgium becomes the target of Russian retaliation.
One would not leave the European Council without finding a solution for the financing of Ukraine, warns of the Leyen. Merz also wants to use Russian assets in Germany. A new draft is to persuade Belgium to agree. More in the liveticker.
Associated Press News
Under pressure at home, Belgium's leader treads a tight rope with EU partners over funds for Ukraine
Belgium was always at the heart of the European Union. Now it's at the center of tensions over a plan to use frozen Russian assets to fund Ukraine.
The EU Commission wants to use frozen Russian assets for Ukraine. Belgium threatened with a blockade. Now head of government Bart De Wever is more conciliatory, but demands.
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