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EU might bypass Belgium in vote on Russia’s frozen assets — Politico

Diplomats warn against this decision, arguing that it could further divide an already fractured bloc, plunging it into a real crisis

BRUSSELS, December 17. /TASS/. The European Union may potentially decide to use Russia’s frozen assets to finance Ukraine without Belgium’s approval, Politico reported.

According to the newspaper, the European Commission’s plan to expropriate Russian assets is still opposed by the country that holds the majority of them. EU ambassadors are set to reconvene on Wednesday in a last-ditch effort to resolve as many details as possible before the leaders gather at the summit in Brussels on Thursday, Politico said.

Meanwhile, some of Kiev’s allies are prepared to sideline Belgium. "It is important to have Belgium in [on the deal], but let’s see. If this [a qualified majority vote] will be the only [option], why not?" Latvian Prime Minister Evika Sili·a told Politico. Diplomats, however, warn against this decision, arguing that it could further divide an already fractured bloc, plunging it into a real crisis.

On December 12, the European Union’s Council formally decided to permanently freeze Russia’s sovereign assets. The European Commission aims to secure the EU member states’ approval to expropriate them at the December 18-19 summit in Brussels. The European Commission aims to secure approval from EU member states at the December 18-19 summit in Brussels to expropriate approximately 210 billion euros in Russian assets, with 185 billion euros already blocked on the Euroclear platform in Belgium.

Russian President Vladimir Putin previously characterized the proposed confiscation as an act of theft, while Russian Justice Minister Konstantin Chuichenko told TASS that the country’s leadership has already been presented with options for responding to a potential seizure of Russian assets by Western nations.

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