“This [reparations loan] is what we’re working on. We are not there yet and it is increasingly difficult, but we’re doing the work and we still have some days,” she said.
Belgium has long opposed using Russia’s frozen assets to aid Ukraine, arguing it could harm the peace process and expose Brussels to legal retaliation from Russia.
Recently, Italy, Bulgaria, and Malta expressed opposition to the plan, joining earlier dissent from Hungary and Slovakia. Over the weekend, Czechia’s new Prime Minister, Andrej Babiš, stated that Prague would not provide financial guarantees to back Belgium.
The EU doesn’t need unanimous approval to access the assets following a decision to use emergency powers for indefinite immobilization. A qualified majority vote could pass, even with opposition from the seven mentioned countries, as a blocking minority requires 35 percent of the EU’s population.
Kallas noted it “would not be easy” to override Belgium, as most assets are held there. “I think it’s important that they are on board with whatever we do.”
Threats against Belgium appear to be increasing. A joint investigation by EU Observer, Humo, De Morgen, and Dossier Center reported that Euroclear’s chief executive, Valérie Urbain, faced threats from a Russia-sympathizing French banker linked to Euroclear, prompting her to hire private security.
Former Estonian Prime Minister Kallas remarked, “some countries are more used to the threats presented by Russia than others — but I want to tell you these are only threats. If we keep united, we are much stronger.”
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