Belgium reiterates opposition as EU states revive debate over frozen Russian assets for Ukraine

  • Belgium reaffirmed opposition to using frozen Russian assets to support Ukraine.
  • Maxime Prevot said the renewed initiative received little enthusiasm among EU ministers.
  • The Netherlands, Poland, Spain and Sweden called for the EU to revisit the proposal last week.

Belgium has reaffirmed its opposition to using Russia’s frozen assets to support Ukraine after the Netherlands, Poland, Spain and Sweden pushed the European Union to revisit the issue. Foreign Minister Maxime Prevot said the initiative generated little enthusiasm among colleagues at an informal meeting of EU foreign ministers in Ireland. Belgium has opposed using the assets for about a year, warning that a mechanism resembling confiscation would create significant legal and financial risks. Most of the frozen Russian central bank funds are held through Brussels-based clearinghouse Euroclear, making Belgian cooperation important to any EU plan. Belgium has previously supported using income generated by the assets while leaving the principal untouched.

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