Belgian PM on frozen Russian assets: Coalition of the Willing must also be coalition of payers
Belgium insists on establishing a clear legal framework and shared responsibility for using Russia's frozen assets to benefit Ukraine – something it says is still lacking.
Belgian Prime Minister Bart De Wever made the statement ahead of a meeting of the EU heads of state and government in Brussels on October 23, according to an Ukrinform correspondent.
"Every country in the European Union, and even in the broader coalition, if they want to help Ukraine by seizing Russian immobilized assets – that's a measure that has never been taken in history before, not even during the Second World War. Immobilized assets have always been left untouched. If we want to do this, then we have to carry the risks together," he said, adding that they must be collective, they must be guaranteed, and all holders of such assets must act in coordination.
De Wever noted that EU countries are still looking for a legal basis on which such a decision could be made.
"That seems to me the beginning of everything – the legal basis. If there is a legal basis, we want to go forward in this debate, but we have three conditions that are not yet being met," he said.
Belgium, he added, wants shared responsibility for the risks, which are substantial — amounting to tens, possibly hundreds of billions of euros. Therefore, if these claims come arise, EU members should be responsible together.
The second condition is joint guarantees: every member state should contribute if something goes wrong.
The third condition is that if EU countries want to move forward, they must do so together.
De Wever recalled that Belgium is not the only country holding frozen Russian assets, adding that other European states and G7 members also possess significant sums.
"If we want to give them to Ukraine, we have to do it all together. If not, Russian retaliation might only hit Belgium. That's not very reasonable. We are a small country, and retaliation can be very hard. […] If the Coalition of the Willing is not willing to be the coalition of the bill for the war in Ukraine, then it makes no sense to carry on," he said.
Among the possible risks, he mentioned that Russia could seize funds from Western banks or companies with European capital.
He said that establishing a legal basis must be the starting point of any discussion if member states plan to take such an "unprecedented step." "Belgium isn’t asking for anything excessive,” he added.
De Wever also said he would be "surprised" if the discussion concluded today — "but miracles happen."
The EU is working on an initiative to unlock EUR 185 billion in frozen assets of the Russian Central Bank located within the bloc. The plan, announced last month by European Commission President Ursula von der Leyen, would provide Ukraine with a so-called "reparations loan," which EU leaders will discuss at their October 23-24 summit.
Von der Leyen described the reparations loan as a reliable and lawful way to make Russia pay for the damage it caused Ukraine.
Photo: Bart De Wever / X