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EU Members Unwilling to Share Risks of Using Russia's Frozen Assets - Belgian Minister
EU Members Unwilling to Share Risks of Using Russia's Frozen Assets - Belgian Minister
Sputnik International
EU countries are unwilling to share in the potential legal fallout associated with the use of immobilized Russian assets, Belgian Foreign Minister Maxime Prevot has said.
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"The best way to provide Ukraine with the rapid financial assistance it needs is through a joint European loan, rather than trying to follow a path that provides neither the required legal certainty nor the elimination of systemic financial risks," Prevot wrote in a social media post Monday.Earlier in the day, hawkish EU foreign policy chief Kaja Kallas confirmed that the EU still lacks a consensus on funding for Ukraine.Prevot separately warned that European officials' obsession with tapping into Russia's frozen assets could threaten the Trump-led peace push.Nearly $350 billion in Russian foreign currency reserves were trapped abroad at the start of the Ukraine crisis in 2022, with as much as $232 billion held in European accounts. European officials have already started using interest earned on the funds to send aid to Ukraine, and hawks have urged more drastic measures, including seizing the funds outright. Skeptics have warned that doing so would forever undermine Europe's reputation as a safe haven for foreign wealth, particularly among developing countries.
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EU Members Unwilling to Share Risks of Using Russia's Frozen Assets - Belgian Minister
19:02 GMT 01.12.2025 (Updated: 19:08 GMT 01.12.2025) MOSCOW (Sputnik) - EU countries are unwilling to share in the potential legal fallout associated with the use of immobilized Russian assets, Belgian Foreign Minister Maxime Prevot has said.
"The best way to provide Ukraine with the rapid financial assistance it needs is through a joint European loan, rather than trying to follow a path that provides neither the required legal certainty nor the elimination of systemic financial risks," Prevot wrote in a social media post Monday.
"It is for a good reason the European countries do not want to assume joint obligations and share risks - something that we have been rationally calling for for many months. Otherwise, why do they refuse such risk mutualization?" Prevot asked.
Earlier in the day, hawkish EU foreign policy chief Kaja Kallas confirmed that the EU still lacks a consensus on funding for Ukraine.
Prevot separately
warned that European officials' obsession with tapping into Russia's frozen assets could threaten the Trump-led peace push.
Nearly $350 billion in Russian foreign currency reserves were trapped abroad at the start of the Ukraine crisis in 2022, with as much as $232 billion held in European accounts. European officials have already started using interest earned on the funds to send aid to Ukraine, and hawks have urged more drastic measures, including seizing the funds outright. Skeptics have warned that doing so would forever undermine Europe's reputation as a safe haven for foreign wealth, particularly among developing countries.
