EU, NATO leaders to discuss plan to use seized Russia assets for Ukraine with Zelensky
"The European Commission President earlier held a meeting with Belgian Prime Minister Bart De Wever and German Chancellor Friedrich Merz on the issue of Russian assets, which was very constructive," European Commission's Chief Spokesperson Paula Pinho stated
BRUSSELS, December 8. /TASS/. Leaders of EU institutions and the NATO Secretary General will talk with Vladimir Zelensky about the plan to expropriate frozen Russian assets to fund Ukraine for the next two years, the European Commission's Chief Spokesperson, Paula Pinho, announced.
"European Commission President Ursula von der Leyen, European Council President Antonio Costa and NATO Secretary General Mark Rutte will discuss funding for Ukraine's needs in 2025-2027 with Vladimir Zelensky in Brussels this evening," Pinho stated, declining to provide details.
"The European Commission President earlier held a meeting with Belgian Prime Minister Bart De Wever and German Chancellor Friedrich Merz on the issue of Russian assets, which was very constructive," Pinho said.
On December 3, the European Commission presented its plan for the expropriation of Russian sovereign assets blocked in Europe under the guise of a so-called "reparations loan" to Ukraine. The EC proposed appropriating all 210 billion euros in assets blocked in the EU, of which 185 billion euros are blocked in Belgium’s Euroclear accounts, while the location of the remaining 25 billion euros is unknown. Of this amount, the European Commission intends to take control of 165 billion euros and use it to finance Ukraine in 2026-2027, while using the remaining 45 billion euros to cover loans already issued to Ukraine starting in 2024, with interest paid from the reinvestment of Russian assets.
Belgium opposes the European Commission’s plan for the expropriation of Russian sovereign assets blocked in Europe under the guise of a so-called "reparations loan" to Ukraine, being afraid of facing Russia’s potential response without any legal guarantees of financial compensation by the rest of the EU.
Earlier, Russian Ambassador to Belgium Denis Gonchar stated in an interview with TASS that, no matter how the expropriation of Russian assets is carried out, it would be a theft. He warned that Russia’s reaction "will follow immediately" and force the West to "count its losses.".