Belgium blocks decision on use of Russian assets
The European Commission proposed financing Ukraine using frozen Russian assets over the next two years. But Belgium, on whose territory the Euroclear clearing house is located, is blocking approval of this scheme.
Sikorski acknowledged that EU countries must take into account the risks for Belgium associated with such a decision.
«We agree that Belgium must not be left alone with all the risks; it needs support,»
— the minister noted.
«This is Europe's key card in support of Ukraine»
At the same time, the Polish minister stressed that using frozen Russian assets is critically important to support Ukraine — both on the battlefield and for economic stability.
«I hope Belgium will reconsider its position. This is the key card Europe can play in favor of Ukraine. The outcome of this war may depend on it,»
— Sikorski stressed.
In his view, only guaranteed financial support for Ukraine for 2–3 years can deter Russian ambitions.
«When Putin sees that Ukraine has the resources to maintain the state and defence for several years, he will be forced to reconsider whether he can afford to continue the war,»
— added the head of Poland's Foreign Ministry.
Reparations loan as an instrument of pressure on the Kremlin
Sikorski emphasized that a reparations loan could become a key element of future peace negotiations. At the same time, its blocking, in his view, poses a risk both for Ukraine and for the whole of Europe.
The European Commission's idea of a «reparations loan» envisages raising about €140 billion, formed from revenues from frozen Russian assets. Ukraine could receive about €45 billion per year from 2026 to 2028.
So far Belgium continues to block the final decision to launch this financial scheme.
