FT reported increased EU pressure on Belgium to use Russian assets

The European Union (EU) has increased pressure on Belgium and the Euroclear site located on its territory in order to obtain permission to use frozen Russian assets to provide Ukraine with a "reparation loan." This was reported on October 8 by the Financial Times newspaper, citing sources.

"Belgium has been claiming for three years that Euroclear is a Belgian company, as well as the benefits of its activities. Now that she wants to share the risks, she claims that Euroclear is a European company," said an anonymous EU diplomat.

Other senior EU sources noted that "the patience of the Belgian authorities is running out," and they may agree to use Russian funds. One European official added that "the risks for Belgium are extremely limited," although he noted that they are still manageable.

It is expected that the EU will agree on the loan to Ukraine by December this year, and the first payments are planned in the second quarter of 2026.

Gathered for business: the West cannot come to an agreement on the assets of the Russian Federation

The ECB and a number of countries are skeptical about the "reparation loan"

On October 1, EU leaders unanimously supported the use of frozen Russian assets to provide Ukraine with a loan of 140 billion euros. The European Commission assured that it had found a "legally justified way" to implement a mechanism in which Kiev would be able to use the funds now.

Kremlin spokesman Dmitry Peskov said on October 7 that the Russian side was taking the necessary measures to ensure its interests against the background of the West's confiscation of frozen assets of the Russian Federation. According to him, Russia will use all possible legal tools to protect the country's rights, prosecuting those who have used illegal actions.

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