Belgium seeks to shut down EU Russian assets push

BSS
Published On: 03 Sep 2026, 01:27

WICKLOW, Ireland, Sept 2, 2026 (BSS/AFP) - Belgium's foreign minister on Wednesday pushed back against efforts to revive proposals to tap frozen Russian central bank assets to fund Ukraine.

Opposition from Belgium, where most of the roughly 200 billion euros ($230 billion) are held, last year helped nixed an EU plan to use the funds.

EU countries instead came up with a 90-billion- euro loan for Ukraine off their own backs.

But with worries growing that the money may not last as long as hoped, four EU countries have pushed to reopen the debate on the Russian assets.

"The proposal has met with little enthusiasm or appetite among our colleagues," minister Maxime Prevot told AFP in a statement after talks with his EU counterparts in Ireland.

Prevot said that the Belgian government's position remained "unchanged".

"After all, the reasons for our opposition have not magically vanished in the interim," he said.

"Using these assets through a process akin to confiscation carries significant risk."

Despite Belgium's efforts, it appears that the renewed push to tap the assets is not dead yet.

EU foreign policy chief Kaja Kallas said after the talks in Ireland that fresh funds for Ukraine should ultimately "come from Russia".

"That is why some of the Member States were proposing to go back to the discussion of the frozen assets," she said.

"And we will continue that discussion."
 

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