Finance
Belgium deputy PM: Russian frozen assets to be used for Ukraine loan
Published by Global Banking and Finance Review
Posted on December 11, 2025
1 min readLast updated: January 20, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on December 11, 2025
1 min readLast updated: January 20, 2026
Belgium's deputy PM proposes using Russian frozen assets for Ukraine loans, amid legal concerns delaying EU decisions.
BRUSSELS, Dec 11 (Reuters) - Russian frozen assets will have to be used for Ukraine at some point, Belgium's deputy prime minister Vincent Van Peteghem said on Thursday, added however Belgium "would not take any reckless compromises" before it agreed to any deal over this.
"At some point, these frozen Russian assets will have to be used," he said ahead of a meeting of euro zone finance ministers.
The European Commission has proposed an unprecedented use of frozen Russian assets or international borrowing to raise money which is urgently needed for Ukraine. The Commission and most EU countries prefer a "reparations loan" using Russian state assets immobilised in the EU due to Russia's invasion of Ukraine.
But Belgium, which holds most of the assets in the Euroclear securities depository, has raised a range of legal concerns, delaying a decision, which is now expected to be taken on Dec 18.
(Reporting by Jan Strupczewski;Editing by Sudip Kar-Gupta)
Frozen assets refer to funds or properties that have been legally restricted from being accessed or transferred, often due to legal actions or sanctions against a country or individual.
The European Commission is the executive branch of the European Union responsible for proposing legislation, implementing decisions, and managing the day-to-day operations of the EU.
The eurozone is a group of European Union countries that have adopted the euro as their official currency, facilitating easier trade and economic cooperation among member states.
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