Belgium Seeks Legal Guarantees Amid EU Debate on Using Frozen Russian Assets for Ukraine

Ukrainian President Volodymyr Zelenskyy has urged European Union leaders to agree on utilizing frozen Russian assets to fund weapons and support Ukraine's defense against Russia, emphasizing that Russia must pay for the war it initiated. However, Belgian Prime Minister Bart De Wever has taken a firm stance against the EU plan unless a clear legal basis and risk-sharing mechanisms are established, citing concerns over potential Russian retaliation and legal liabilities. Belgium holds the largest portion of these frozen assets, approximately $225 billion, and De Wever insists that any decision to use these funds must involve joint responsibility among EU member states to prevent Belgium from bearing disproportionate risks. The EU Commission proposes using these frozen assets as collateral for a "reparation loan" to Ukraine, which would be repaid only if Russia compensates for war damages; otherwise, the assets remain frozen. Russia condemns this plan as illegal confiscation, while EU leaders maintain it is a legal loan arrangement to support Ukraine's financial needs amid ongoing conflict. The discussions remain at a standstill due to Belgium's demands for legal guarantees and mutualized risk sharing, highlighting divisions within the EU on how to move forward with the frozen asset issue.