Belgian Prime Minister Bart De Wever has criticized the EU’s proposal to fund Ukraine using frozen Russian sovereign assets, citing unresolved legal and financial risks. During a meeting of EU leaders on Thursday, De Wever outlined Belgium’s objections to the “reparation loan” scheme, which aims to raise €140 billion by leveraging Russia’s immobilized central-bank reserves as collateral. The plan hinges on Moscow repaying the debt as part of a future peace agreement—a scenario De Wever called improbable.
De Wever emphasized that Belgium, home to most of the frozen Russian assets at Euroclear, faces disproportionate exposure if the EU proceeds. He warned that Russia has threatened “consequences until eternity” if its funds are touched, comparing the situation to an embassy’s diplomatic immunity. Belgium demands a solid legal framework for any “confiscation” of sovereign funds and insists other nations must share financial risks. De Wever noted there is no “tsunami of enthusiasm” among EU leaders to guarantee the plan, stressing that Belgium cannot afford to cover €140 billion alone.
While reaffirming support for Ukraine, De Wever stated the EU must resolve the funding crisis by year’s end to sustain Kyiv’s war efforts.
