Archive · 2 Oct 2025
Belgium Seeks Shared Risk in Utilizing Frozen Russian Assets
The EU is considering using money frozen from Russia to help Ukraine.
Belgium, where most of this money is held, wants other EU countries to share the risk.
They worry about Russia retaliating and the safety of Euroclear managers.
Russia is very angry, calling it "pure theft" and threatening consequences.
The EU plans to give Ukraine a loan, expecting eventual repayment, but there are legal and financial challenges, with some leaders hesitant due to the risks involved.
EU leaders discuss using frozen Russian assets for a loan to Ukraine.
Belgium seeks risk-sharing from EU states regarding the use of assets.
Most frozen assets are held in Belgium via the Euroclear.
Russia views the proposal as "pure theft" and threatens retaliation.
Legal and financial aspects of the plan are still being resolved.
- Who
- EU leaders, Russia, Belgium, Ukraine
- What
- Debate over using frozen Russian assets to support Ukraine.
- When
- Wednesday and Thursday
- Where
- Europe (Belgium - Euroclear)
- Why
- To finance loans for Ukraine's defense and reconstruction.
EU/Ukraine
Russia
Asset Usage
EU/Ukraine
Proposes utilizing frozen Russian assets to support Ukraine.
Russia
Condemns the use of frozen assets as an attack.
Risk and Responsibility
EU/Ukraine
EU states would guarantee a loan to Ukraine.
Russia
The idea is theft and promises harsh response.
Financial Implications
EU/Ukraine
Provide loans for weapons and other reconstruction needs.
Russia
Will face harsh consequences as a result of the decision.
- Frozen Russian Assets Value
- $300 billion (globally)
- Euroclear Holdings
- 185 billion euros (Belgium)
- Proposed Loan to Ukraine
- 140 billion euros
- EU Action
- Use frozen assets to provide loans to Ukraine
- Belgium's Concern
- Risk sharing and security of Euroclear management
- Russia's Stance
- Condemns the plan as theft and threatens retaliation
Sources
Belgium says EU leaders must share risk to use frozen Russian assets for Ukraine
'There's no free money': Belgium warns of risks in using frozen Russian assets for Ukraine
Explainer-How will the West use Russia’s frozen assets?
Russia slams EU plan to use frozen assets for Ukraine as ‘delusional’, warns of harsh retaliation