EU reviews Belgian proposal on using frozen Russian assets to fund Ukraine

The European Commission has confirmed that it received a letter from Belgian Prime Minister Bart De Wever concerning the potential use and conditions of Russia’s frozen assets held in Belgium to finance Ukraine in 2026–2027.

According to Ukrainian media, EU Commission Chief Spokesperson Paula Pinho said the letter is under review and noted that the Commission will soon present its legal justification for using these assets in support of Ukraine. 

“I can confirm that the letter from Prime Minister Bart De Wever to President von der Leyen was received,” Pinho stated.

She emphasised that discussions with EU member states, including Belgium, remain “intense” following the presentation of an options document by Commission President Ursula von der Leyen.

The document outlined various approaches for fulfilling the European Council’s commitment to meet Ukraine’s financial needs in 2026–2027. “Based on this options document, intensive discussions are taking place with member states, including Belgium, and we are making progress in this work,” Pinho said.

Pinho also reminded that President von der Leyen recently announced in Strasbourg that the Commission is ready to present legislative proposals for utilising frozen Russian assets to support Ukraine.

“What we are trying to do now is really ensure that the concerns raised, particularly by Belgium and its Prime Minister, are addressed satisfactorily so that everyone feels comfortable with the positions being proposed by the Commission,” she added. 

The initiative forms part of broader EU efforts to establish a “reparations loan” for Ukraine using frozen Russian assets, aimed at ensuring the country’s financial stability. The Commission hopes Belgium will back the scheme ahead of the EU leaders’ summit scheduled for December 18–19.

However, significant challenges remain. Prime Minister De Wever’s letter to President von der Leyen reportedly contained sharp criticism of the proposed scheme, highlighting disagreements within the EU on the approach.

In parallel, media reports indicate that European countries are preparing a “Plan B” should an agreement on using Russia’s frozen assets not be reached. This alternative plan aims to ensure Ukraine will not face a funding shortfall at the start of 2026.

By Tamilla Hasanova