Belgium has rejected a European Union proposal to use profits from frozen Russian assets as collateral for a €140 billion ($163 billion) loan to Ukraine, citing unresolved financial and legal risks. The decision, announced on December 3, 2025, underscores growing tensions within the bloc over how to support Kyiv amid ongoing geopolitical challenges.
Belgian Deputy Prime Minister and Foreign Minister Maxime Prevot criticized the EU’s plan during a NATO foreign ministers’ meeting in Brussels, stating, “It is not acceptable to use the money and leave us alone facing the risks.” He emphasized that Belgium’s concerns about liability under the proposed “reparations loan” framework were ignored, calling the strategy “the worst of all” options.
The EU Commission’s proposal, set for publication later today, aims to mobilize approximately 90% of frozen Russian central bank assets held at Brussels-based Euroclear. However, Belgian Prime Minister Bart De Wever recently labeled the plan “fundamentally flawed” in a letter to EU Commission President Ursula von der Leyen, arguing it could breach international law.
Analysts suggest the impasse highlights broader challenges in balancing immediate aid to Ukraine with legal safeguards for EU member states. The debate comes as Kyiv faces mounting reconstruction costs and calls for sustained financial support from Western allies.
