Bloomberg has learned about Belgium's rejection of the EU plan to use Russian assets
The Belgian authorities have rejected a new legal proposal from the European Union (EU) to use frozen Russian assets to secure a loan to Ukraine. This was reported on December 3 by Bloomberg, citing a statement by Belgian Foreign Minister Maxime Prevost.
"The text that the commission will present today does not meet our concerns satisfactorily," the newspaper quoted Prevost as saying before a meeting of NATO foreign ministers in Brussels.
This statement was made a few hours before the European Commission (EC) was going to publish a legislative proposal that would allow the bloc to use frozen Russian assets.
"The unexpected refusal once again undermines the EU's attempts to find a new financing plan for Ukraine. Given that Kiev will face a financial crisis in the coming months, officials have less and less time," the article says.
At the same time, Belgium fears legal consequences for the country, as most of the funds are deposited in the Euroclear depository based in Brussels. The government believes that "he will have to repay the loan if Russia sues."
Prevost said earlier in the day that the Belgian authorities consider the confiscation of frozen Russian assets to be the worst possible option for financing Ukraine. According to him, Belgium continues to insist on using a natural source of financing, offering the EU to borrow the necessary amount on the markets.
On the same day, Politico newspaper noted that the European Commission intends to submit a plan to obtain approval from Belgium for the use of frozen Russian assets.
On November 27, Russian President Vladimir Putin said that the confiscation of Russian assets located in the European Union would have negative consequences. In particular, the Russian government, on behalf of the head of state, is developing a package of retaliatory measures.
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