Belgium Blocks EU โPlan to โSeize Russian โขAssets for โขUkraine, โCites Risk of Retaliation
Brussels -โฃ Belgium is blocking a Europeanโ Union โplan to utilize โฃapproximately โฌ190 billion (4.6 trillion CZK) โคin frozen Russian assets to aid Ukraine, fearing potential legal repercussions and retaliatory asset seizures, Belgian Prime Minister โBart De Wever has stated. The impasse, revealed ahead of aโค December 18th EUโข summit, centers โonโค Euroclear,โค the Brussels-based company holding โthe bulk โคof the frozen funds.
Belgium worries it โcould beโ forced to compensate Russia should Moscow win the war and โขsuccessfully sue for the return of its assets. De wever warned that Russia could โseize Western assets heldโข within Russia, โincluding the โฌ16 billion euroclear has there,โฃ and even target โBelgian factories operating inโค the country. He further questioned whether โฃthe EU had โconsidered potential asset seizures โคby Belarus and China.
“Weโข will โขnot place risks โinvolving hundreds of billions on Belgian shoulders. Not today, not tomorrow, not ever,” De Weverโข toldโ Politico.He added that only Germany has expressed willingness to share the financial risks.
The Belgian position, described by Politico as a “bolt from the blue” โat an October โ23rd EU summit, has stalled discussions on โขhow ukraine could accessโ the funds. De wever indicated his firm stance is straining relationships with other โEuropeanโ officials, quipping to La libre newspaper, “After this episode, if Iโ have any international job, it will be washing dishesโฆ”
The EUโ Commission had presented draft legal texts on Wednesday, but Deโ Wever remained unimpressed,โข stating,โฃ “I’m not impressed โขyet, let’s โฃput it this way.” โA final decision on โฃthe matter hasโค been postponedโ until the December 18thโ summit.
