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EU pushes back on Belgium's unlimited coverage demand for frozen Russian funds

global.espreso.tv
Tue, 02 Dec 2025 13:24:00 +0200
EU pushes back on Belgium's unlimited coverage demand for frozen Russian funds
Politico reported the information.Belgium is seeking protection from its European Union partners as Brussels prepares to use approximately $140 billion in immobilized Russian state assets on Belgian territory to finance Ukraine's war effort. The dispute centers on Belgian Prime Minister Bart De Wever's demands for guarantees that would exceed the frozen sum, be payable within days, and remain in effect even after EU sanctions on Russia expire.European governments say they're willing to provide financial backstops, but not the "blank check" Belgium is requesting. Four EU diplomats said De Wever's proposal would leave their countries vulnerable to potential court judgments worth billions of euros, extending years beyond the war's conclusion."If [the guarantees] are infinite and without limits, then what are we getting ourselves into?" one EU diplomat said.The disagreement threatens negotiations on the EU's reparations loan ahead of a critical December summit. European Commission President Ursula von der Leyen said Monday the bloc has "made good progress" and plans to present legal proposals this week, racing to prevent Ukraine's war chest from running dry in April."For many member states, it's politically difficult to give this blank check," a second diplomat noted, though they added the safeguards likely won't be needed because the EU's legal framework is sound.The Commission has shown some EU ambassadors portions of its proposal, but the specific guarantee amount remains undisclosed. Without agreement, the EU may need to issue additional debt using taxpayer funds—an unpopular option among most member states.EU foreign policy chief Kaja Kallas acknowledged Belgium's concerns Tuesday but offered no solution. "I don't diminish the worries that Belgium has, but we can address those, shoulder those and work on a viable solution," she told reporters at an EU defense ministers meeting.European governments are intensifying pressure on Belgian Prime Minister Bart De Wever over concerns that Brussels is not being transparent about tax income generated from €140 billion in frozen Russian reserves, as tensions mount ahead of a crucial summit on sending the funds to Ukraine.Belgium's resistance to using frozen Russian assets to aid Ukraine appears driven less by legitimate concerns about financial risks and more by a reluctance to lose a lucrative revenue stream, as Prime Minister Bart De Wever increasingly resorts to manipulative arguments reminiscent of Hungary's Viktor Orbán.
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