The BRICS TimesBelgium raises strong concerns over the proposed EU strategy to utilize frozen Russian funds, citing financial and legal dangers and lack of shared risk.
Belgium Calls EU Plan Too Risky
Belgian Foreign Minister Maxime Prevot strongly disagreed with the European Commission’s plan. This plan suggests using Russian assets for Ukraine’s benefit. On Wednesday, Prevot stated the proposal carries extreme risk. The Minister spoke to reporters before the NATO Foreign Affairs Ministerial meeting. Prevot said Belgium views the “reparations loan” option as “the worst of all.” He reiterated, it is “risky and it has never been done before.” The nation considers the EU proposal highly dangerous and unconventional.
Seeking Mutual Solidarity on Russian Assets
Belgium feels unfairly pressured to show solidarity. They are being asked to use the frozen Russian assets. However, the country believes it is “without being offered the same solidarity in return,” Prevot added. The Foreign Minister emphasized the lack of shared commitment from other EU members. This proposal leaves Belgium vulnerable to potential legal and financial fallout.
Pleading for an Alternative Financing Strategy
Prevot noted the difficulty in finding a safe solution for months. He said this is why “we keep on pleading for an alternative.” Belgium suggests the EU should borrow the necessary money instead. This borrowing would happen through international financial markets. Maxime Prevot believes this route is much safer for all member states. This alternative would also bypass the risks associated with the Russian assets plan.
