EU’s New “Reparations Loans” Plan Meets Most of Belgium’s Concerns

The European Commission approved a legal framework on December 3 to use frozen Russian assets for reparations loans to Ukraine, largely addressing Belgium’s concerns.

In a new document on the legal basis for using frozen Russian assets to provide “reparations loans” to Ukraine, approved by the European Commission’s college on December 3, almost all of Belgium’s comments were taken into account.

This was stated by European Commission President Ursula von der Leyen, as reported by a correspondent from “European Pravda” in Brussels.

Von der Leyen assured that the European Commission “listened very carefully” to Belgium’s concerns and incorporated them into the document.

“We had an intensive discussion regarding Belgium’s position, where Euroclear is located, the main source of the frozen Russian assets. We listened very carefully to Belgium’s concerns and incorporated almost all of them into our proposal, which today concerns reparations loans,” von der Leyen said.

She added that the European Commission has provided “very strong safeguards to protect member states and minimize risks as much as possible.”

For example, the EU promises to “ensure the impossibility of enforcing an illegitimate court decision both outside and within the European Union.”

“Importantly, we have created a very strong solidarity mechanism, where, in the end, the EU can intervene. We want to reassure all our member states, but especially Belgium, on one point: we will fairly share the burden, as is customary in Europe,” emphasized the European Commission President.

As reported by “European Pravda,” the EU plans to cover two-thirds of Ukraine’s external financing needs in 2026 and 2027.

On December 3, the European Commission announced two measures that will allow Ukraine’s financial needs in 2026–2027 to be met: a “reparations loan” based on frozen Russian assets and EU joint borrowing on external markets.

On the same day, even before the European Commission announced the new proposal, Belgium’s Foreign Minister, Maxime Prévot, stated that it was categorically unacceptable.