Belgium may file lawsuit against EU over "reparation loan" for Ukraine, - De Wever
Belgian Prime Minister Bart De Wever said he would not rule out legal action if the EU approved a plan to use frozen Russian assets that was unacceptable to his country.
As reported by Censor.NET, he said this in a comment to VRT.
Negotiations are ongoing
He emphasizes that the risks cannot be borne solely by Belgium, and calls this condition "rational, reasonable, and justified."
De Wever said that Belgium is continuing negotiations with the European Commission to ensure that its plan to provide Ukraine with a loan using Russian assets meets "rational, reasonable, and fair" requirements.
"There has been a lot of goodwill, but there is a gap between the goodwill to do something and the actual ability to do something, which now needs to be bridged," he added.
Belgium may appeal to the EU Court of Justice
At the same time, De Wever noted that he does not rule out legal action.
"Nothing can be ruled out. If a decision is made that, in my opinion, contradicts the law and therefore makes no sense and poses great risks for this country, nothing can be ruled out," he said.
The prime minister noted that both Belgium and Euroclear, the depository where Rosactives is stored, may appeal to the EU Court.
What is known about the "reparations loan" for Ukraine
- We would like to remind you that at a meeting in October, EU leaders postponed a decision on the use of frozen Russian assets as collateral for a so-called "reparations loan" for Ukraine in the amount of €140 billion ($163 billion). EU leaders plan to return to discussing this issue at a meeting on December 18-19.
- Belgium, where the lion's share of these funds is held, opposed the European Commission's proposed plan to use frozen Russian assets at a meeting of EU leaders. The country fears legal and financial sanctions from Moscow and wants other EU countries to share these risks.
- Earlier, European Commission President Ursula von der Leyen proposed using frozen Russian assets as collateral for providing Ukraine with "reparation loans". Formally, Russian assets subject to sanctions will not be confiscated, but Ukraine will repay such loans only after Russia pays reparations.
- In turn, Russian dictator Putin responded by signing a decree that effectively allows for the accelerated expropriation of assets belonging to Western companies that have not yet left Russia.
- According to various estimates, the European Union's "reparation loan" to Ukraine, secured by Russian assets, could amount to €130-140 billion. Its final size will be determined after the International Monetary Fund assesses Ukraine's financing needs in 2026 and 2027.
- In total, Euroclear has accumulated more than €175 billion in cash from frozen Russian assets, which could be used to secure a new loan. But before the EU agrees to grant a reparations loan, it will want to repay the G7 loan to Ukraine of €45 billion ($50 billion) agreed last year, which was to be repaid from the proceeds of frozen Russian assets.
