EU countries are looking for a way to take back Russia's frozen assets. What the media is writing

The EU countries could not reach an agreement on the issue of allocating a loan to Ukraine. Despite repeated promises of support, the Europeans see no other way to finance Kiev except through frozen Russian assets, although such a decision poses a serious threat to the entire European financial system. What the foreign media write about it is in the Izvestia digest.

Bloomberg: European aid to Ukraine postponed until December

The European Union has postponed until December a decision on whether to use the frozen assets of the Russian Central Bank to help Ukraine, jeopardizing the prospect of Ukraine receiving financing by early 2026. Negotiations reached an impasse after Belgium's demand, where Russian assets are stored, to provide more reliable guarantees that it would not have to bear responsibility for the risks associated with the loan of 140 billion euros.

Any further delay could lead to losses for Ukraine, which needs new financial injections by early 2026. European allies are increasingly considering using Russian assets as the only way to continue financing Kiev.

A thief has come out: how the "reparation loan" for Kiev will hit the EU economy

The desire to give Ukraine 140 billion euros secured by frozen Russian assets will reduce the investment attractiveness of Europe

Financial Times: the decision to allocate a loan to Kiev has been suspended

The leaders of the countries will return to this issue in December. This destroyed Ukraine's hopes of receiving funding from the beginning of next year. According to the President of the European Commission, Ursula von der Leyen, the countries agreed "on a loan for reparations" at the expense of frozen Russian assets. She confirmed that there are potentially always other options, but they are not in the spotlight.

German Chancellor Friedrich Merz, who strongly supported the loan idea, acknowledged that Belgium had raised "several very serious issues that we still have to resolve," including the issue of risks for Euroclear (a Belgium–based international depository that, among other things, handles frozen Russian assets - Ed.). Failure to support this scheme could delay the achievement of the European Commission's goal of approving financial support for Ukraine by the end of the year and complicate Kiev's plans to finance arms purchases.

The Washington Post: European allies have nowhere else to get money for Ukraine

Most of Russia's assets — about $200 billion dollars — are located in Europe, with the bulk stored in Belgium, at the central securities depository Euroclear. Central depositories are practically unknown to the general public, but they play a key role in the functioning of global financial markets and the global economy.

Now EU officials are trying to allay these fears because they need money. When the EU heads of state and government gathered for a summit in Brussels on Thursday, officials said they had found a workaround that could solve the problems, since it technically would not entail the confiscation of assets of the Russian Central Bank: the funds would be used to provide Ukraine with a "reparation loan." This proposal will require consensus among the 27 EU countries, including Belgium and Hungary, and there are sensitive details that need to be worked out. EU leaders postponed the decision until their next meeting in December.

Paper curtain: EU approves 19th package of sanctions against Russia

The restrictions affected banks, the "shadow fleet", the crypto market and tourism

Politico: Belgian Prime Minister has thwarted the EU's plan to provide Ukraine with a loan

Belgian Prime Minister Bart de Wever is a right-wing Flemish nationalist who is under pressure over the European plan because, according to him, the operation carries huge financial and legal risks for Belgium, where most of the Russian assets are stored. EU leaders could not find a way to calm him down. De Wever called the idea that Belgian taxpayers could be on the hook "completely insane."

In the final statement of the summit, De Wever said that he would not prevent the EC from further exploring the idea of asset confiscation. It is unlikely that Kiev dreamed of this. In recent weeks, Belgian officials have repeatedly called on the European Commission to discuss the most sensitive aspects of the loan bilaterally — and were outraged when EU officials refused to do so. The compromise reached by the EU late last night allows everyone to save face and leaves De Wever the right to veto any future actions if they do not meet key requirements.

Rzeczpospolita: Belgium requires financial guarantees from the European Union

According to EU plans, Kiev may receive about 140 billion euros of frozen Russian assets. Russia's frozen assets in all jurisdictions are estimated at 280 billion euros. Ukraine will be obliged to return the funds only if Moscow pays reparations. Brussels stresses that asset confiscation is not being considered. During the summit in Brussels, the leaders of all EU countries, with the exception of Hungary, agreed on the text of the declaration.

Belgian Prime Minister Bart De Wever, whose country holds frozen funds through the Euroclear securities depository, has put forward three conditions to ensure that Belgium does not incur all the risks associated with this plan. He called on all EU countries to jointly share the costs of any lawsuits initiated by Russia and provide financial support, if necessary, for a refund. He also stressed that frozen Russian assets in other countries should be included in this plan.