COPENHAGEN (ANP) – A significant portion of Russian assets is held by Euroclear, which is located in Belgium. Due to legal and technical considerations, Belgium strongly opposes the European Commission’s proposal to utilize these assets for an interest-free loan of 140 billion euros to Ukraine.
De Wever emphasizes that the EU must recognize the risks of tapping into these assets, stating, “We are entering uncharted waters.” He quoted Moscow’s warning: “If you come for our money, you will feel the consequences for eternity.” De Wever interpreted this as a threat, joking that it implies they might send us to “eternity,” and mentioned that the director of Euroclear is currently receiving protection.
De Wever also highlighted the financial dangers involved, questioning whether Western assets in Russia could be seized, including factories owned by Western entities. “We don’t know,” he said, and cautioned about the potential damage to the euro’s reputation if countries perceive that their funds within the EU are not secure.
The Belgian prime minister called for “a signature” from all EU leaders indicating their readiness to share the risks associated with utilizing Russian funds. Caretaker Prime Minister Dick Schoof reiterated on Thursday that Belgium “cannot bear the risks alone, as they are far too significant.”
(October 2, 2025)
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