Belgium seeks EU guarantees over use of frozen Russian assets for Ukraine loans

Belgian Prime Minister Bart De Wever has called on European Union leaders to provide guarantees that his country will not bear the burden alone if frozen Russian assets held in Belgium are used to finance loans to Ukraine.

Speaking in Copenhagen on October 2, De Wever said he wanted written assurances from his counterparts that any risks would be shared across the bloc, Caliber.Az reports via Reuters.

“There’s no free money. There are always consequences,” De Wever told reporters. “I explained to my colleagues yesterday that I want their signature saying, if we take Putin’s money, we use it, we’re all going to be responsible if it goes wrong.”

At a summit in the Danish capital on October 1, EU leaders expressed broad support for using Russian assets frozen in the West to back a €140 billion loan for Ukraine. However, they agreed further talks were needed to resolve legal complexities.

Belgium, which hosts the bulk of the frozen funds, insists it cannot agree to the plan without strong guarantees that it will not be left to face Moscow alone if the assets must eventually be returned.

“Don’t put me in the role of the bad guy here,” De Wever said. “I’ve been very constructive from day one,” he added, stressing that he required “a maximum of legal certainty and solidarity.”

The European Commission has proposed channeling the cash balances from frozen Russian central bank securities to support Ukraine in 2026 and 2027, at a time when U.S. military aid is running ou.

The Kremlin has denounced the proposal as “pure theft.”

European Commission President Ursula von der Leyen acknowledged Belgium’s concerns, pledging that Brussels would refine the plan to ensure a fair distribution of risks.

“It’s absolutely clear that Belgium cannot be the one who is the only member state that is carrying the risk, the risk has to be put on broader shoulders,” von der Leyen said on October 1.

By Sabina Mammadli