Belgium PM Explains Why EU Summit Did Not Move Forward on Frozen Russian Assets

Belgian Prime Minister Alexander De Croo told reporters on Friday that he 'does not want' to push for a decision on seizing frozen Russian state assets at this EU summit, explaining that the legal and political groundwork is not yet complete.

De Croo said that while Belgium sympathizes with Ukraine's need for more funding, acting prematurely on the frozen assets risks creating legal challenges that could undermine the entire initiative. The assets, worth approximately 300 billion euros, are mostly held at Euroclear in Brussels.

The prime minister's cautious stance contrasts with more aggressive positions held by Denmark, the Baltic states, and Poland, which have pushed for using the frozen assets directly as aid to Ukraine.

Several EU member states, including Germany and France, have also expressed legal reservations about seizing the assets outright. The EU has instead been channeling the interest earned on these frozen funds to Ukraine, but advocates argue this approach is insufficient given Ukraine's growing financing needs.