BRUSSELS: Finnish President Alexander Stubb believes that "any European decision" on frozen Russian assets should be acceptable t...
BRUSSELS: Finnish President Alexander Stubb believes that "any European decision" on frozen Russian assets should be acceptable to Belgium, which is under pressure from the European Commission on this issue.
"I think that any decision should be acceptable to Belgium," he told Belgium’s Le Soir newspaper. The Finnish leader added that he does not support those who "pressure Belgium in this situation."
Euroclear, based in Belgium, holds most of the assets that the EU has frozen from Russia. However, Belgium is blocking their use, fearing that it will have to pay Russia compensation on its own. Earlier, Russian Ambassador to Belgium Denis Gonchar told TASS that any scheme the European Commission uses to expropriate the assets will be considered theft. The diplomat warned that Russia’s response "will follow immediately" and force the West to "count its losses."
EU countries are discussing ways to continue financing Kiev and are considering using the frozen Russian assets for this purpose. On October 23, at an EU summit, Belgium blocked the European Commission’s plan to expropriate Russian assets within the framework of the so-called "reparation loan" for Ukraine. Belgium fears retaliation from Russia and demands that all EU countries share the burden of Brussels’ financial losses. The final decision on this matter has been postponed until the European Commission summit in December, when the member states will discuss various loan options for Ukraine in 2026 and 2027. Earlier, the European Commission’s press service said that expropriating Russian assets remains a priority option.
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