Majority of Belgians oppose theft of Russian assets to fund Ukraine – poll
Around 67% of Belgians oppose the EU scheme to use frozen Russian central bank assets to back a ‘reparations loan’ to prop up Ukraine, according to a recent poll conducted by Ipsos and Belgian news outlets published on Monday.
The bulk of sovereign Russian assets frozen in the West are held in the Belgian clearinghouse Euroclear. Prime Minister Bart De Wever has steadfastly opposed EU moves to “steal” the funds, citing disproportionate legal risks to Belgium, despite mounting pressure from the European Commission.
EU leaders were set to vote on using the assets to back a controversial €90 billion ($106 billion) ‘reparations loan’ to help cover Ukraine’s floundering budget, which faces an estimated $160 billion shortfall over the next two years.
However, Hungarian Prime Minister Viktor Orban said the EU leadership “backed down” and that “Russian assets will not be on the table” at Thursday’s European Council meeting. The council “pushes joint loans, but we will not let our families foot the bill for Ukraine’s war,” he wrote on X on Wednesday.
Last week, the EU tightened its grip on the frozen Russian assets by invoking Article 122, an economic emergency treaty clause, to bypass the need for a unanimous decision amid opposition from a number of member nations.
By using the mechanism, the bloc stripped “Hungary of its rights,” Orban said at the time.
Belgium, Slovakia, Italy, Bulgaria, Malta, and the Czech Republic joined Hungary to oppose raiding the Russian assets to finance Ukraine.
Last week, the Russian central bank sued Euroclear in a Moscow court, accusing it of the “inability to manage monetary assets and securities” entrusted to it. The firm estimates that it holds nearly $19 billion in client assets in Russia, which could become targets for legal retaliatory measures.
