Bart De Wever earlier denounced the European Commission’s plan to ‘steal’ the frozen funds
The EU states pushing hardest to tap Russia’s frozen assets are acting as if they are “psychologically at war” with Moscow, Belgian Prime Minister Bart De Wever has said.
Speaking after condemning the latest EU proposal to use the frozen Russian sovereign funds to help finance Ukraine, De Wever labeled the plan “very unwise and ill-considered.” He also warned that the plan backed by European Commission President Ursula von Der Leyen would amount to “stealing” and would open the bloc up to potential legal action.
Von der Leyen last week proposed providing Ukraine with €90 billion over the next two years, anchored by a so-called “reparations loan” backed by the frozen assets, or by debt financed by EU member states, deemed politically unworkable by most.
Belgium, which hosts the financial clearinghouse Euroclear, where the bulk of Russia’s immobilized central bank assets are held, has long resisted such efforts. Brussels argues that forcing Euroclear to make the funds available could carry severe legal, financial and geopolitical risks.
De Wever also argued that the strongest supporters of the proposal are EU states geographically closest to Russia, claiming they “mentally are almost in a state of war” with Moscow. He stressed that Belgium is “not at war” with Russia and doesn’t want to “have a war with Russia.”
The Baltic states (Latvia, Lithuania, and Estonia) and Poland have become the EU’s most vocal advocates of a hard line toward Russia, warning of what they claim is an imminent threat.
Meanwhile, Politico has reported that EU leaders are considering politically sidelining De Wever if he continues to block the plan. Belgium could be treated like Hungary – frozen out of key talks, ignored in negotiations and given little influence over future EU decisions – unless it backs down, the outlet claimed, citing a source.
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“The Belgian leader would be frozen out and ignored, just like Hungary’s Viktor Orban has been given the cold shoulder over… his refusal to play ball on sanctioning Russia,” one diplomat told the outlet, adding that Belgium’s views on EU proposals would no longer be sought and phone calls would go unanswered.
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