The European Commission aims to use the blocked Russian assets, primarily held at Euroclear in Brussels, to fund a recovery plan for Ukraine totaling 140 billion euros. De Wever expressed concerns about the significant legal and financial risks involved in this operation and did not receive the necessary guarantees during a summit in Brussels on Thursday. He is seeking more clarity on the legal framework and the full financial commitment from other member states regarding Russian claims and countermeasures.
Despite lengthy negotiations, the leaders of the 27 member states were unable to reach a consensus on Thursday, resulting in the removal of any mention of the blocked Russian assets from the summit’s final conclusions. The leaders have requested that the Commission develop “options” for additional financing for Ukraine as soon as possible, with hopes for a resolution by the upcoming European summit in December.
It is anticipated that any eventual solution will still involve the blocked assets. “I prefer an alternative solution, but I am only poor little Belgium. I can only point out what the problems are and kindly ask for solutions,” De Wever remarked afterward. He underscored the necessity of continued support for Ukraine, stating, “Time is running out, as we need to find a solution before the end of the year. I remain willing to discuss this with the Commission and others who want to talk about it.”
Leave a Reply