The European Commission is exploring new ways to use frozen Russian reserves to back a reparations loan for Ukraine, seeking a mechanism that could overcome Belgium’s objections and win support from all 27 EU member states. The push follows calls from four EU countries and more than 120 members of the European Parliament to revive efforts to tap the roughly €200 billion ($234 billion) in Russian assets frozen in Europe.JOIN US ON TELEGRAMFollow our coverage of the war on the @Kyivpost_official. One proposal would move Russian assets held by Belgium’s Euroclear depository, where the vast majority of the frozen reserves are located, along with assets held at other European financial institutions, into a separate EU-controlled structure, the Financial Times reported on Sept. 11, citing two sources familiar with the discussions. The move could shift both the assets and associated liabilities under EU control, potentially shielding Belgium and Euroclear from some of the legal risks they have cited in opposing the plan. The proposal has been backed by former German Defense Minister Annegret Kramp-Karrenbauer and Nathalie Loiseau, a European Parliament member from French President Emmanuel Macron’s party. Ukrainian Finance Minister Serhiy Marchenko and 122 European lawmakers also endorsed it in a letter to EU leaders. The European Commission has yet to put forward a specific technical solution. Any plan would require political backing from all EU member states, with Belgium’s support considered particularly important.