Except in the case… Belgium refuses to use Russian assets to finance Ukraine

De Wever asked in a letter he addressed Thursday to the President of the European Commission, Ursula von der Leyen. "Why venture into unknown legal and financial areas"

The frozen assets of the Russian Central Bank

He considered that resorting to the frozen assets of the Russian Central Bank, the majority of which are located in Belgium, "Completely wrong choice in my opinion"in a four-page letter.

The Commission had proposed using these funds to finance "Compensation loan" With a value of about 140 billion euros for the benefit of Ukraine, to be paid only if Russia pays war reparations.

The Europeans pledged at the end of October to find solutions to finance Ukraine during the next two years, to ensure that Kiev’s resources do not run out with the decline in American support.

Assets of the Russian Central Bank

Several European countries, due to their fragile financial conditions, support resorting to the frozen assets of the Russian Central Bank in Europe. Company maintains "Euroclear" In Brussels, about 210 billion euros of these assets amounting to 235 billion.

Germany, the Baltic countries, the Scandinavian countries, Poland and the Netherlands strongly support this path.

German Chancellor Friedrich Merz said on Friday that he is pressuring the Belgian government to join the efforts of the European Union.

Russian assets

Meretz considered during his meeting with Slovenian Prime Minister Robert Golub in Berlin that "We must do everything in our power to end this war, and to achieve this, the use of Russian assets seems to me an appropriate and fair tool." in order to "Exerting maximum pressure on Russia"

Meretz pointed out that "He understands" some "Strong arguments" Which De Wever proposes, but at the same time he stressed that he seeks to "A joint solution with the Belgian state as well as with Euroclear"

But the process is unprecedented and raises many questions, not only in Belgium. The European Central Bank fears possible turmoil in the financial markets and the possibility of destabilizing the euro.

Risks and dangers

De Wever, for his part, fears that Belgium alone will bear the consequences if any problem occurs, and that it will be exposed to retaliatory responses from Russia, and he wrote "I will not burden Belgium alone with the risks and dangers arising from the compensation loan option"

European diplomats and officials have been working for weeks to respond to these concerns, and they have three weeks to try to convince Belgium of the project or search for other alternatives to finance Ukraine, before a decisive summit scheduled for December 18.

De Wever stressed in his letter that he will not approve the plan unless it is presented. "Binding guarantees" It is signed by member states at the moment the decision is taken.