"I want the maximum of legal certainty. I want solidarity," Belgium Prime Minister Bart De Wever said about the proposal to use Russian frozen assets.

Brussels

Belgian Prime Minister Bart De Wever has asked the European Commission to clarify the legal basis for a plan to use frozen Russian assets to issue a 140 billion euro loan to Ukraine. The assets, held largely in Belgium, would be transferred to the Commission and gradually loaned to Ukraine, with repayment expected only after Russia agrees to pay compensation for war damages.

De Wever emphasized the need for legal certainty and shared responsibility among EU countries, expressing concerns that Belgium should not bear sole liability if the plan faces legal or financial challenges. The proposal, known as the Reparations Loan, is designed so that Euroclear, the European Central Securities Depository, would ultimately reimburse Russia once compensation is agreed, completing the financial cycle.

Belgian PM demands answers on Russian frozen assets

Belgian Prime Minister Bart De Wever has called on the European Commission to provide direct answers to the legality of using Russia's frozen assets to issue Ukraine a 140 billion euro loan. The idea was first proposed by European Commission President Ursula von der Leyen last month, an idea set to test the limits of international law. The audacious plan would entail using up to 185 billion euros in Russian assets held on Belgian territory. But De Wever wants guarantees that if it goes wrong, Belgium won't be the only country liable for repayment, damages or litigation. I don't want to give a dime back to Mr. Putin. And I understand why everybody's looking at a huge amount of money. If you look at the sovereign assets, 170, in other countries it's also a lot. We are ready, willing and able to go forward. It's no problem, but I want answers on every question I asked. I want the maximum of legal certainty. I want solidarity and I want transparency on the situation in the other countries. I don't think this is an unreasonable position. Under the scheme, Russian funds frozen by Europe's Central Securities Depository, Euroclear, would transfer the money to the Commission, which would then be gradually issued in loans to Ukraine over time. Ukraine would then be asked to repay the loan only after Russia agrees to compensate for damages, hence the name Reparations Loan. The Commission would then repay Euroclear, who in turn will reimburse Russia, completing the circle.

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LaGuardia Airport

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Manchester

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Washington

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Los Angeles

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Doha

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Jerusalem

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Odesa Oblast

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Cebu

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Quantico

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Caracas

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Hollywood

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Ukraine Invasion

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