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Fear of Russian retaliation: Belgium blocks the use of Russian assets

Fear of Russian retaliation: Belgium blocks the use of Russian assets

Место хранения замороженных активов РФ / фото из открытых источников

EU officials and the Belgian government have failed to find a solution to use frozen Russian assets to finance Ukraine’s needs over the next two years.

On Friday, November 7, a technical meeting was held between representatives of the European Commission and the offices of Belgian Prime Minister Bart de Wever and Foreign Minister Maxime Prévost.

According to Euronews, the Belgian government is growing concerned about the lack of alternative proposals from the European Commission for using frozen Russian assets to finance Ukraine.

The EU is insisting on using 140 billion euros of frozen Russian assets held in the Belgian financial vault Euroclear.

However, the Belgian government is declaring significant risks associated with this unprecedented operation and is demanding legal guarantees that it will not be held liable for any unforeseen consequences. The government is also concerned about potential Russian sanctions and costly legal action by Russia or its partners.