“The door is slammed shut”: Belgium draws red line over using frozen Russian assets

Belgium’s defense minister says the country will not consider using frozen Russian assets to help Ukraine, despite renewed pressure from several European Union members.

“The issue is not up for discussion, the door is slammed shut,” Theo Francken told Belgian broadcaster VRT. He added that Prime Minister Bart De Wever would maintain a firm position.

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The issue is not up for discussion, the door is slammed shut.

Sweden, Poland, the Netherlands and Spain called on the European Commission last week to seek new ways to use about 200 billion euros in frozen Russian assets for Ukraine. Most of the money is held by Euroclear, a Belgian-based financial institution.

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Our prime minister will maintain a firm position.

De Wever rejected a German and European Commission proposal at an EU summit last December for a 210 billion-euro reparations loan to Ukraine. He argued that Belgium could become vulnerable if Russia launched legal proceedings. Francken also warned the Baltic states, which strongly support the idea, against repeatedly pressing the issue and placing Belgium under pressure, while noting that Belgium provides them with substantial support.

The defense minister’s position appears firmer than that of Foreign Minister Maxime Prévot, who recently left open the possibility of using the assets if EU countries shared the legal responsibility fairly. EU foreign ministers are expected to discuss whether talks should continue at an informal Gymnich-format meeting planned for early September. Ukrainian Foreign Minister Andrii Sybiha has called for more active work on a legal mechanism to use the assets for aid to Ukraine.

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They should also be cautious about constantly returning to this issue and driving us into a corner. I do not think that is wise.