Prime minister says proposal violates international law and would destabilise financial markets
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Belgium has hit back against an EU plan to use Russia’s frozen assets to aid Ukraine, describing the scheme as “fundamentally wrong” and throwing into doubt how Europe will fund Kyiv.
In a sharply worded letter, Belgium’s prime minister, Bart De Wever, said the proposal violated international law and would instigate uncertainty and fear in financial markets, damaging the euro. “These risks are unfortunately not academic but real,” he wrote to the European Commission president, Ursula von der Leyen.
Belgium hosts €183bn of Russian assets, about two-thirds of the Russian assets immobilised in the west, at the Brussels-based central securities depository Euroclear.
