Belgium Blocks EU Proposal to Seize Russian Assets, Citing Fears of Retaliation
BRUSSELS, Belgium — Belgium has emerged as a key obstacle to a European Union initiative aimed at seizing approximately $224 billion in frozen Russian assets to aid Ukraine’s war effort. The Belgian government, led by Prime Minister Bart De Wever, has expressed serious concerns that confiscating these funds could provoke retaliation from Russian President Vladimir Putin and potentially escalate conflict on European soil.
The assets in question are held primarily in Euroclear, a Brussels-based financial institution, and represent a significant portion of the EU’s sanctioned Russian holdings. The European Commission has proposed reallocating these frozen funds as part of a €165 billion (around $190 billion) financial package designed to support Ukraine’s budgetary needs for the next two years. This plan comes amid warnings that Ukraine could exhaust its war funding by April 2026.
Despite broad support across the EU, Belgium’s resistance has complicated efforts to finalize the proposal ahead of a crucial European Council meeting scheduled for December 18. German Chancellor Friedrich Merz and European Commission President Ursula von der Leyen have engaged in high-level talks with Belgian officials to address their concerns and seek consensus.
Prime Minister De Wever has underscored Belgium’s unique vulnerability, emphasizing that unilateral seizure of Russian assets could be perceived by Moscow as an act of war. This apprehension is echoed by Dmitry Medvedev, deputy head of Russia’s Security Council and former president, who issued a stark warning on the social media platform X. Medvedev described the seizure as a potential “casus belli,” implying it could justify hostile actions against Brussels and its European allies.
“Belgium’s particular situation regarding the use of the frozen Russian assets is undeniable and must be addressed in such a way that all European states bear the same risk,” von der Leyen stated after meeting with Merz and De Wever. She affirmed ongoing discussions aimed at reaching a consensus during the upcoming EU summit.
The stakes are high as the EU balances the urgent need to support Ukraine against the risk of further destabilizing relations with Russia. The European External Action Service has highlighted the delicate nature of the negotiations, noting that any misstep could have far-reaching consequences for regional security.
Belgium’s concerns reflect broader anxieties within the EU about potential Kremlin retaliation, which could manifest in cyberattacks, economic countermeasures, or even military provocations. The European External Action Service continues to monitor the situation closely, coordinating with member states to mitigate risks.
The frozen assets have been a point of contention since the EU imposed sanctions on Russia following its invasion of Ukraine in 2022. The U.S. Department of the Treasury and the EU have both played roles in freezing these funds, aiming to pressure Moscow economically.
As the December 18 deadline approaches, EU leaders face mounting pressure to deliver a unified response that balances financial support for Ukraine with geopolitical prudence. The Council of the European Union will be the venue where this critical decision unfolds.
Meanwhile, Russia’s recent escalation of drone and missile attacks on Ukraine underscores the urgency of sustained financial backing for Kyiv’s defense. The U.S. Department of Defense and allied partners continue to emphasize the importance of robust support to deter further aggression.
Belgium’s stance highlights the complexities of European unity in the face of a multifaceted security challenge. How the EU navigates this impasse will shape the continent’s strategic posture for years to come.
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