BRUSSELS, December 17. /TASS/. EU ambassadors’ preliminary talks on expropriating Russian assets have effectively reached an impasse, Politico Europe reported.

"Less than 24 hours before EU leaders descend on Brussels for vital talks on financing Ukraine’s war effort, Belgium believes negotiations are going in reverse," Politico said. "‘We are going backward,’ Belgium’s EU ambassador, Peter Moors, told his peers on Wednesday during closed-door talks," the agency added, noting that at a meeting of the EU Committee of Permanent Representatives on the issue of Russian assets, ambassadors only moved further away from reaching an agreement.

Politico states, citing sources, that Belgium has demanded "substantial financial and legal safeguards" from EU countries. Belgium believes that other EU nations should share any risks the kingdom may face if the €185 billion in Russian assets blocked at the Euroclear depository are expropriated. The amount of guarantees should not be limited to €210 billion, as allegedly proposed by the European Commission, since the damage to the kingdom may be significantly greater.

According to Politico, other EU countries aren’t on board with providing unlimited guarantees. Similarly, Belgium’s demand that all EU countries terminate their investment agreements with Russia in the event of asset expropriation did not receive universal approval. "To Belgium's annoyance, several countries are reluctant to do so over fears of retribution from the Kremlin," the newspaper notes.

Upon arriving in Brussels for the EU-Western Balkans summit scheduled for the evening of December 17, Hungarian Prime Minister Viktor Orban announced that the issue of Russian assets had already been "removed from the agenda of the EU summit to be held on December 18-19." However, EU institutions have not yet officially confirmed this.

Earlier, Russian Ambassador to Belgium Denis Gonchar said in an interview with TASS that regardless of the scheme the EU chooses to expropriate Russian assets, it would still be theft. The ambassador warned that Russia's response would "follow immediately" and force the West to "count its losses.".