EU steps up pressure on Belgium over frozen Russian funds for Ukraine
EU defence chiefs are urging Belgium to let the bloc use frozen Russian central-bank assets to buy urgently needed weapons for Ukraine. They warn that Kyiv could run out of ammunition by spring.
On Monday, Sweden’s Defence minister, Pal Jonson, said Ukraine “needs the financial muscle” to keep fighting, while the Netherlands’ Ruben Brekelmans stressed that using the assets would show Russia it can’t outlast European support. Germany also backed the plan. It said Ukraine must be able to expand its air defences and secure more ammunition.
Most of the frozen money - around 185bn euros - is held at Belgium’s Euroclear. Brussels is therefore the key decision-maker. But Belgium is resisting. Prime minister Bart De Wever says tapping the assets could harm peace talks, and Euroclear’s CEO has even threatened to sue the EU.
Belgian concerns grew further after the European Central Bank reportedly refused to provide financial backing for the plan.
Despite this, EU foreign policy chief Kaja Kallas says Belgium must shift. She argues that a “reparations loan” based on the immobilised Russian funds is the most realistic option and would strengthen Europe’s position in any negotiations. It would also signal to Washington that the EU is taking “very credible” steps to help end the war.
Kallas insists the rest of the EU is ready to share any legal risks with Belgium.
Time is running out. US envoy Steve Witkoff is heading to Moscow for fresh talks on Tuesday, and EU officials fear that Ukraine may be pressured into concessions. As a result, Belgium faces growing pressure ahead of the decisive EU summit on 19 December.
Kaja Kallas © BELGA PHOTO NICOLAS MAETERLINCK
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