Belgium Voices Strong Objections to EU Proposal

(MENAFN) Belgian Foreign Minister Maxime Prevot reiterated on Wednesday the nation’s apprehensions over the EU’s plan to channel profits from frozen Russian assets to Ukraine, emphasizing that the issues raised are not addressed "in a satisfactory manner."

Speaking to reporters ahead of NATO's foreign ministers meeting in Brussels, Prevot said, "We have the frustrating feeling of not having been heard; our concerns are being downplayed.

The text the Commission will table today does not address our concerns in a satisfactory manner."

Prevot stressed that Belgium had "repeatedly" viewed the idea of a reparations loan as "the worst of all," citing the inherent "risk" involved.

"It is not acceptable to use the money and leave us alone facing the risks," he added, highlighting the need for the potential hazards Belgium could face under the plan to be "fully covered."

Earlier, Belgian Prime Minister Bart De Wever expressed similar concerns in a letter to EU Commission President Ursula von der Leyen, describing the proposed initiative as "fundamentally flawed" and warning that it could breach international law.

In his letter, De Wever also cautioned about possible Russian retaliation, particularly against Euroclear and Belgium itself, and pointed out that frozen assets might be instrumental in future peace negotiations, with premature use potentially complicating those talks.

Additionally, Brussels-based securities firm Euroclear and the National Bank of Belgium sent separate letters to EU officials, alerting them to the legal and financial dangers associated with the proposed plan.

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