Belgium Blocks EU Plan Using Frozen Russian Assets for Ukraine Financing

At the October 2025 European summit in Brussels, Belgium blocked the EU's plan to use approximately €140 billion in frozen Russian central bank assets to fund Ukraine, citing legal uncertainties and risks of Russian retaliation. Belgian Prime Minister Bart De Wever emphasized the need for a clear legal basis and shared financial responsibility among all member states, as Belgium holds most of the frozen assets through the Euroclear platform. Despite prolonged negotiations, EU leaders could not reach an agreement and instead tasked the European Commission with developing alternative financial support options for Ukraine by the December summit. The proposed mechanism would have loaned the frozen assets to Ukraine, repaid only if Russia compensates for war damages. Concerns also extend to the frozen assets of private Russian investors, whose funds remain inaccessible despite legal rights to reclaim them. The deadlock risks leaving Ukraine dependent on annual aid packages and national budgets, potentially limiting sustained financial support amid ongoing conflict.