Belgium continues to block important decision on Ukraine

European leaders were unable to approve a loan to Ukraine secured by frozen Russian assets.

During the Brussels summit, Belgium continued to promote its vision and disagreed with the general assessment of the situation.

Given the fact that the vast majority of these assets are stored in the Euroclear central depository, which is located in Brussels, Belgium fears being hit by a barrage of legal claims and financial countermeasures from Russia.

The President of the European Council, António Costa, made a statement on this occasion:

"We have made a key political decision to provide full financial support to Ukraine to cover its needs in 2026 and 2027," he stressed, but also confirmed the presence of "technical issues" that have not yet been resolved.

According to Belgian Prime Minister Bart de Wever, his country's authorities want to see absolute clarity regarding the legal basis of such a move and the potential risks for the euro.

In addition, Brussels wants guarantees from other countries that the money can be returned if necessary.

"A legal basis is not a luxury," Wever noted.