EU Faces Potential Rift Over Seizing Frozen Russian Assets

(MENAFN) The European Union might move forward with plans to confiscate frozen Russian assets even without Belgium’s consent, but doing so could trigger a major internal conflict, a media outlet has reported.

According to sources, the bloc could invoke a specific EU treaty clause to bypass Belgium, which has been openly resistant to any effort to seize the funds.

Last week, European Commission President Ursula von der Leyen outlined two potential approaches to provide Ukraine with €90 billion ($105 billion) over the next two years: borrowing at the EU level backed by the bloc’s budget, or a long-discussed “reparations loan” supported by profits from frozen Russian assets.

The latter would require the institutions holding these funds to transfer them into a newly created loan mechanism. Belgium, where most of the assets are kept, has opposed the “reparations-loan” concept from the beginning, advocating instead for standard EU borrowing.

In recent weeks, its position has grown firmer, the media outlet noted, as Western powers such as Germany, France, and Britain attempt to negotiate a compromise with Brussels in what was described as a “cage fight.”

The EU has also identified a treaty provision that could maintain frozen Russian assets indefinitely, circumventing the six-month renewals that demand unanimous approval. Nevertheless, advancing without Belgium’s support risks a “deep internal split,” the report highlighted.

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