Belgium yet to back European Commission plan on reparations loans for Ukraine

The European Commission is continuing talks with Belgium on the use of frozen Russian assets to provide Ukraine with €140 billion in reparations loans, but Brussels has not yet approved the initiative.

"An EU ambassadors' meeting is currently ongoing, where the use of frozen assets in support of Ukraine is among the key issues on the table. From what we can see, Belgium still has legal concerns that remain unresolved," an EU diplomat in Brussels told European Pravda.

The diplomat has added that negotiations are expected to continue on 23 October during the meeting of the European Council.

"Belgium is seeking clear commitments and guarantees from EU member states, and so far the arguments presented by the European Commission are not sufficient," another diplomat added.

European Pravda has reported earlier that the European Council is set to reaffirm the EU's plans to provide financial and military assistance to Ukraine in 2026-27, partially funded by proceeds from frozen Russian assets.

Belgium has agreed not to block the EU's idea for a reparations loan to Ukraine using frozen Russian assets, meaning the European Union can now move on to practical steps for its implementation.

The Euroclear financial repository, which holds the frozen Russian assets, is based in Belgium. Brussels has expressed particular concern over the potential legal consequences of any decisions involving these assets.