No Breakthrough in Negotiations on Blocked Russian Assets
Negotiations between the European Commission and Belgium about using blocked Russian assets for a loan to Ukraine have not reached a breakthrough, according to a report on Friday following a technical-level meeting.
Discussion Overview
Senior officials from the Commission met with a Belgian delegation on Friday morning to discuss the use of Russian assets. The talks were described as constructive; however, Belgium’s legal and financial concerns remain unresolved. The negotiation process is ongoing.
Commission Proposal and Belgium's Position
The European Commission is preparing a proposal to access blocked assets from the Russian central bank to financially support Ukraine over the next two years. This proposal involves recovering approximately 140 billion euros held at Euroclear securities in Brussels, positioning Belgium at the negotiation center.
Belgian Prime Minister Bart De Wever (N-VA) had previously declined to agree to the plan during a summit in Brussels last month. His hesitation is mainly due to legal and financial uncertainties. He is seeking a clear legal framework and demands guarantees that other EU member states will cover any financial risks involved.
Additionally, De Wever insists on addressing blocked Russian assets held in other countries, not just those in Belgium.
"Ultimately, the final conclusions of that summit contained no reference to blocked Russian assets."
The talks continue with unresolved issues, especially regarding legal clarity and risk coverage.
Author’s Summary
The negotiations between the European Commission and Belgium on using blocked Russian assets to support Ukraine are ongoing, with legal and financial concerns from Belgium still blocking progress.