Belgium demands guarantees over frozen Russian assets

Belgium continues to insist on its concerns over the possible use of frozen Russian assets to finance Ukraine, sources in the Belgian government told European Pravda.

According to the sources, concerns first raised in December 2025 remain in place. In particular, Belgium is seeking guarantees that, if the funds ever have to be returned to Russia, the financial burden will be shared among all EU member states.

The Belgian government clarified that Defence Minister Theo Francken’s statement that the issue was “closed” merely means that Belgium’s previous position remains unchanged.

Belgium hosts the bulk of the EU’s immobilised Russian central-bank assets at the Brussels-based securities depository Euroclear, making it the key jurisdiction for any scheme that would leverage those funds.

In late 2025, the European Commission proposed a “reparations loan” of up to €210 billion for Ukraine, backed by frozen Russian assets. Under the plan, Kyiv would repay the loan only after Russia paid war reparations, but Belgium blocked the proposal at the December EU summit, demanding legally binding guarantees from all member states to ensure that any future costs would be shared and would not fall solely on Belgium or Euroclear.

By Jeyhun Aghazada