Politico calls Belgium’s block on Russian assets as “fatal blow” to Ukraine

Belgium’s decision not to back a plan to use frozen Russian assets to fund Ukraine has been described as a “fatal blow” to Kyiv and its European allies, according to Politico.

The report highlights Belgian Prime Minister Bart De Wever’s refusal to approve the European Commission’s “reparations loan” scheme, which would have provided Ukraine with up to €140 billion. The move has reportedly weakened the European alliance on Ukraine and left Kyiv facing a growing financial crisis.

Earlier, EU countries sought to pressure Belgium into supporting the plan, which would have redirected Russian assets to Ukraine. In late November, De Wever sent a letter to the European Commission warning that a rushed implementation could undermine the prospects for a potential peace agreement.

Speaking to the Belgian parliament shortly before, De Wever confirmed his refusal to transfer the assets to the European Commission, drawing applause from some MPs. 

By Vugar Khalilov