Belgium has rejected a plan to use frozen Russian assets to support the Ukrainian economy, citing financial and legal risks.

Belgium rejected the EU proposal on Wednesday to use frozen Russian assets to support Ukraine's economy and war efforts in the next two years, arguing that the plan presents significant financial and legal risks. The budget needed for Ukraine in 2026 and 2027 is estimated at around 130 billion euros, and the European Union has committed to covering this deficit, already investing over 170 billion euros since the beginning of the war.

Belgian Foreign Minister Maxime Prévot stated that the option of using Russian assets as collateral for a 'repair loan' is risky and without precedent, suggesting that Belgium prefers to borrow money from international markets. Prévot emphasized that using these funds could attract legal actions from the clearing house Euroclear, which holds the frozen assets, and highlighted that Belgium does not want to take on risks without receiving adequate support from European partners.