Belgium rejects EU push to transfer frozen Russian assets to Ukraine

September 1, 2026 at 01:15 AM2 min

This digest was compiled by AI from multiple sources — links to the originals are below.

Belgian Defence Minister Theo Francken said the transfer of frozen Russian assets held in Belgium to Ukraine is non-negotiable and the door is completely closed. Sweden, Poland, the Netherlands and Spain had urged the European Commission to explore new ways to use the roughly €200 billion in frozen assets for Ukraine. The issue is expected to be discussed at an EU foreign ministers' meeting in Ireland next week.

Key Facts

Belgian Defence Minister Theo Francken said the transfer of frozen Russian assets to Ukraine is non-negotiable and the door is completely closed.
Sweden, Poland, the Netherlands and Spain called on the European Commission to explore new ways to transfer roughly €200 billion in frozen Russian assets to Ukraine.
Most of Russia's frozen assets are held at the Euroclear financial infrastructure company in Belgium.
At the December 2025 EU summit, Belgian Prime Minister Bart De Wever vetoed a €210 billion repair loan plan proposed by Germany and the European Commission.

Belgian Opposition

Belgian Defence Minister Theo Francken reiterated his country's opposition to transferring frozen Russian assets to Ukraine during a television programme. Francken said the matter is non-negotiable and the door is completely closed. He also addressed the Baltic states, which have repeatedly raised the issue due to concerns about Russia, saying Belgium already provides intensive support to Lithuania, Latvia and Estonia. Francken said the legal risks in this situation cannot be ignored and that the Baltic states should not constantly corner Belgium on the issue.

EU Pressure and Asset Location

Sweden, Poland, the Netherlands and Spain called on the European Commission to explore new ways to transfer the frozen Russian assets to Ukraine. The frozen assets amount to approximately €200 billion. Most of the frozen Russian assets are held at the Euroclear financial infrastructure company in Belgium. The issue is expected to be discussed again at the EU foreign ministers' meeting in Ireland next week.

Previous Veto

At the December 2025 EU summit, Belgian Prime Minister Bart De Wever vetoed a €210 billion repair loan plan proposed by Germany and the European Commission. Belgium cited possible legal retaliation from Russia as the reason for its stance.