Belgium voices concerns over EU plan to use Russian assets for Ukraine reparation loan

Belgian Foreign Minister Maxime Prévot has reiterated his country’s objections to the European Union’s proposed reparation loan, echoing the stance of Prime Minister Bart De Wever.

Prévot criticised leaders and officials who maintain that using Russian assets is the only viable way to financially support Ukraine in comments to Politico. 

Prévot asserted that the EU’s failure to find a clear mechanism to support Ukraine is not Belgium’s fault, but a consequence of the bloc’s “obstinacy” in insisting on using the Russian assets “without knowing how to do it nor understanding the risks that come with it.”

Prévot also warned that the reparation loan could complicate ongoing peace talks aimed at ending the war in Ukraine.

“It is now clear that the assets can play an important role in a peace plan … Our action must not create obstacles to a peace plan,” he said.

When asked whether the European Commission was still pursuing the reparation loan despite Belgium’s objections, a spokesperson confirmed:

“Yes — as one of the options put forward in [the] options paper shared by President Ursula von der Leyen.” The spokesperson added that Brussels continues to consult with member states, including Belgium, on the proposal.

By Sabina Mammadli