Belgium open to transferring Russian assets to Ukraine, but with one condition
Photo: Belgian Foreign Minister Maxime Prévot (Getty Images)
Belgian Foreign Minister Maxime Prévot said Belgium is open to using frozen Russian assets for Ukraine but insists that EU countries first agree on a mechanism for sharing the legal and financial risks.
Belgium explains its position
Prévot stressed that Brussels' caution regarding Russian assets does not mean it is unwilling to support Ukraine or that it is prepared to assist Russia.
According to him, Belgian legal experts have identified risks that could affect not only the country itself but also Europe's financial system.
"Belgium's reluctance, or even refusal, to use these frozen Russian assets should in no way be understood or interpreted as a refusal to help Ukraine, let alone as a desire to provide any support to Russia," the minister said.
What Brussels is concerned about
According to Prévot, if Belgium were ordered in 10–15 years to return more than €200 billion to Russia, the country would be unable to shoulder such costs on its own.
"Otherwise, if in 10 or 15 years Belgium is ordered to return all the funds, it will not be able to bear the burden of repaying more than €200 billion on its own. Proportionally, that is unthinkable for our budget," he said.
What Belgium proposes
Prévot said European countries need to agree in advance on a shared responsibility mechanism to deal with any potential consequences.
At the same time, Belgium supported the EU's decision to provide Ukraine with a €90 billion loan in 2026–2027.
"The risks we identified at the time have not miraculously disappeared. But we have no fundamental objections to using these funds to support Ukraine's cause," the Belgian foreign minister said.
In December 2025, the European Commission proposed that Belgium unblock a €210 billion reparations loan for Ukraine backed by frozen Russian assets. However, Brussels ultimately decided not to take that step.
