Belgian premier says EU will not propose using frozen Russian assets for Ukraine

Belgian Prime Minister Bart De Wever said Wednesday he was certain the European Commission would not propose using frozen Russian assets held in Belgium to finance Ukraine.

Speaking before the Federal Advisory Committee on European Affairs, De Wever said the issue had been discussed at last week’s EU summit, according to Belga news agency.

He said the commission had assured leaders that it would not reopen the debate over Russian assets held at Brussels-based Euroclear.

“I am certain that the European Commission will not make proposals to meet Ukraine’s financing needs through a new operation linked to Russian assets. I am certain of that, because that is what was said,” he said.

De Wever strongly opposed a proposal last year to use approximately €185 billion ($207 billion) in frozen Russian assets held at Euroclear to support Ukraine.

Instead, EU leaders agreed on a €90 billion loan for Ukraine covering this year and next.

However, the funding is expected to fall short of Kyiv’s needs.

Ukrainian President Volodymyr Zelenskyy requested an additional €70 billion in support for next year during last week’s summit.

De Wever did not rule out the possibility that other EU member states could raise the issue of using frozen Russian assets again.

He criticized Dutch Prime Minister Rob Jetten for publicly supporting the seizure of the funds.

“Not everyone took part in last year’s debate. New leaders have emerged who are developing a line of argument that I managed to nip in the bud last year,” De Wever said.

The Belgian premier also warned that even public statements supporting the seizure of Russian assets could have legal consequences.

According to De Wever, his warning had an impact on other leaders during the summit.

He said there was no longer “overwhelming enthusiasm” among EU leaders for pursuing the proposal.