{
  "id": 1745621,
  "title": "Belgium open to using frozen Russian assets to help Ukraine if Europe shares risks",
  "url": "https://urgent.news/2026/08/18/belgium-open-to-using-frozen-russian-assets-to-help-ukraine-if-europe",
  "topic": "world",
  "section": "World",
  "published": "2026-08-18T15:38:47.000Z",
  "source": {
    "name": "Kyiv Independent",
    "slug": "kyiv-independent",
    "url": "https://kyivindependent.com/belgium-open-using-frozen-russian-assets-help-ukraine-europe-shares-risks/"
  },
  "original_language": "en",
  "account": "Belgian Foreign Minister Maxime Prevot suggested that his government may support using around 200 billion euros of frozen Russian assets to aid Ukraine, provided that Europe collectively assumes the associated risks. In December, Belgium had opposed the EU's plan to utilize frozen Russian sovereign assets, primarily held in Euroclear, a Belgian-based clearing house, as collateral for a substantial loan to Ukraine, thus denying Kyiv a crucial funding source. Instead, the EU opted to provide two-thirds of Ukraine's budgetary requirements through the end of 2027, amounting to a 90 billion-euro loan, which is funded through international capital markets borrowing.\n\nWithout additional financial assistance, Ukraine may require further aid by mid-2027. Prevot acknowledged that the risks he initially mentioned remain, but he expressed no fundamental opposition to employing these funds to support Ukraine. Belgian Prime Minister Bart De Wever had initially opposed the EU's idea to convert the assets into direct support for Ukraine, primarily due to concerns about potential legal repercussions if Russia contested the move. Prevot emphasized that any potential use of Russian assets would necessitate coordination among European countries, or possibly beyond, with pre-established solidarity clauses in place. However, such solidarity has not materialized, likely because other capitals were aware of the risks and were unwilling to share them.\n\nPrevot clarified that Belgium does not view its reservations or refusal to utilize the frozen assets as a lack of willingness to aid Ukraine, nor does it signify a desire to support Russia. The Belgian government's primary concern stems from a bilateral investment treaty with Russia, which was signed at the end of the Cold War and bars any expropriation of Russian assets. Nonetheless, the treaty's legality is questionable following the EU's stance that countries should not enforce rulings from courts that contradict the bloc's sanctions rules. In July, the EU's 21st sanctions package included provisions to safeguard entities that adhere to sanctions against external legal pressure, though without detailed specifics.\n\nRussia has consistently filed lawsuits against Belgium to secure the release of its assets, but with no success thus far. In Brussels, discussions are gradually focusing on preparing for the potential seizure of Russia's frozen assets. Diplomats from two European nations have disclosed to the Kyiv Independent that EU countries are contemplating coordinated termination of the bilateral investment treaties held by 17 member states with Russia. The EU's Economy Commissioner Valdis Dombrovskis mentioned in April that the terms of the 90 billion-euro loan imply that the issue of Russian assets will eventually need to be reconsidered.\n\nNevertheless, Prevot stated that Belgium will likely retain its cautious stance unless a legally sound solution is found to mitigate the associated risks. He expressed the need for experts' support, if necessary, to achieve this. Prevot concluded by noting that the coming months will provide valuable insights into the situation.",
  "summary": "\"The risks we identified at the time have not miraculously vanished. But we have no fundamental objection to this money being used to support the Ukrainian cause,\" said Belgian Foreign Minister Maxime Prevot.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "CBC News",
        "title": "Russian missile attack in Kharkiv kills at least 10, as Ukraine keeps up drone attacks in Moscow",
        "url": "https://urgent.news/2026/08/18/russian-missile-attack-in-kharkiv-kills-at-least-10-as-ukraine-keeps",
        "published": "2026-08-18T11:02:53.000Z"
      },
      {
        "outlet": "The Insider",
        "title": "Russian missile strike hits center of Pechenihy in Ukraine’s northeastern Kharkiv Region, killing 10 and wounding 17",
        "url": "https://urgent.news/2026/08/18/russian-missile-strike-hits-center-of-pechenihy-in-ukraines",
        "published": "2026-08-18T18:43:12.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}