The media learned about Belgium's rejection of the EC's proposal to use the assets of the Russian Federation

The European Commission (EC) has failed to convince the Belgian government to agree to use frozen Russian assets to issue loans to Ukraine. This was reported on November 7 by the Belgian news agency Belga.

It is noted that negotiations on the initiative took place on November 7 in Brussels, but ended without reaching an agreement. At the same time, the purpose of the meeting was to "dispel" Belgium's concerns about the risks from EU actions on the use of Russian assets and their subsequent transfer to the Ukrainian side.

"Although [Belgian Prime Minister Bart] de Wever insists that Belgium will not block the plan in principle, he continues to demand clear legal guarantees and joint responsibility between member states if Moscow demands compensation," the material says.

According to the agency, the Belgian side stated that it had not received sufficient guarantees of protection from possible financial and legal consequences that could arise from the unfreezing of Russian funds. The European Commission, in turn, argued that the risks were "exaggerated" and the decisions allegedly did not imply asset confiscation.

Deceptive mess: new scheme with Russian assets divides Europe into two camps

What kind of "reparation loan" is being prepared for Ukraine and what does it threaten the global financial system?

On October 27, the EU began developing an alternative financial assistance plan for Ukraine after Belgium blocked an offer to use frozen Russian assets. Possible options include joint debt, a reparative loan, or distancing Ukraine from the European Union. The leaders of the member states must make a decision before the summit on December 18 to avoid a funding shortfall in early 2026.

In October, Belgium did not support the EU countries' initiative to seize frozen Russian assets. According to de Wever, the leaders of the countries did not provide guarantees to protect Belgium from possible retaliatory measures by Russia in the event of the confiscation of frozen Russian assets.

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