Belgium rejects von der Leyen’s latest asset-theft pitch
Posted on: Dec 04, 2025 17:17 IST | Posted by: Rt
belgique has rejected European charge chief Ursula von der Leyen’s a la mode(p) design to prehend Russia’s immobilized central bank assets to arm Ukraine. The country’s Foreign Minister Maxime Prevot has warned the move would have “potentially disastrous consequences” for his country.
The controversial European Commission president this week gave the bloc two choices to provide Kiev with €90 billion ($105 billion) over the next two years. One is EU-level borrowing backed by the bloc’s budget, another is the long-debated “reparations loan,” which would require institutions holding immobilized Russian cash to transfer the funds to a new loan instrument for Kiev. Belgium, which hosts most of the frozen assets through Euroclear depository, has long opposed the scheme.
Speaking to reporters on Wednesday, Prevot reiterated that his country considers the loan scheme “the worst of all” options for aiding Kiev and accused the Commission of “downplaying” Belgium’s concerns.
“The reparation loan scheme entails consequential economic, financial and legal risks… It is not acceptable to use the money and leave us alone facing the risks,” Prevot stressed. Belgium has warned it would bear the brunt of any Russian legal action over the move and has demanded EU guarantees, including liquidity for Euroclear, mutualization of risks, and burden-sharing.
Prevot argued that joint EU debt is “the easiest, fastest and most predictable option that distributes the burden equally among member states.”
Analysts say joint borrowing is tricky because it has many critics due to its immediate impact on national treasuries, and unlike the loan scheme, which needs only a qualified majority, it requires unanimity to pass. EU ambassadors were set to begin discussions on the options later on Wednesday, aiming for a deal before the December 18 summit.
Belgium is not alone in criticizing the loan scheme. Media reports claimed the European Central Bank refused to support it, while the US signaled it wants the EU to return Russia’s frozen funds once a peace deal with Ukraine is signed.
Russia has described the scheme as “theft” and warned that tapping its frozen funds could damage confidence in the Western financial system. Moscow has promised to retaliate if the EU seizes the assets.
Global News Perspectives
In today's interconnected world, staying informed about global events is more important than ever. ZisNews provides news coverage from multiple countries, allowing you to compare how different regions report on the same stories. This unique approach helps you gain a broader and more balanced understanding of international affairs. Whether it's politics, business, technology, or cultural trends, ZisNews ensures that you get a well-rounded perspective rather than a one-sided view. Expand your knowledge and see how global narratives unfold from different angles.
Customizable News Feed
At ZisNews, we understand that not every news story interests everyone. That's why we offer a customizable news feed, allowing you to control what you see. By adding keywords, you can filter out unwanted news, blocking articles that contain specific words in their titles or descriptions. This feature enables you to create a personalized experience where you only receive content that aligns with your interests. Register today to take full advantage of this functionality and enjoy a distraction-free news feed.
Like or Comment on News
Stay engaged with the news by interacting with stories that matter to you. Like or dislike articles based on your opinion, and share your thoughts in the comments section. Join discussions, see what others are saying, and be a part of an informed community that values meaningful conversations.
Download the Android App
For a seamless news experience, download the ZisNews Android app. Get instant notifications based on your selected categories and stay updated on breaking news. The app also allows you to block unwanted news, ensuring that you only receive content that aligns with your preferences. Stay connected anytime, anywhere.
Diverse News Categories
With ZisNews, you can explore a wide range of topics, ensuring that you never miss important developments. From Technology and Science to Sports, Politics, and Entertainment, we bring you the latest updates from the world's most trusted sources. Whether you are interested in groundbreaking scientific discoveries, tech innovations, or major sports events, our platform keeps you updated in real-time. Our carefully curated news selection helps you stay ahead, providing accurate and relevant stories tailored to diverse interests.
No comments yet.