Belgium open to using frozen Russian assets to help Ukraine if Europe shares risks
a day ago by tardigrade to c/europe
Belgian Foreign Minister Maxime Prevot on Aug. 18 signaled his government could support using about 200 billion euros ($230 billion) of Russian frozen assets to support Ukraine, provided Europe shows "solidarity" in sharing the risks.
Last December, Belgium blocked the EU's plan to use frozen Russian sovereign assets — most of which are held in Euroclear, a Belgium-based clearing house — to back a major loan for Ukraine, denying Kyiv a much-needed source of funding.
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Belgium "does not have the capacity alone to carry on its shoulders the reimbursement of over 200 billion euros," Prevot said.
For Prevot, the prerequisite to any such use of Russian assets is that the action would have to be coordinated among European countries "or even beyond," with "previously negotiated solidarity clauses" in place.
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The risk Belgium fears stems primarily from a bilateral investment treaty that Belgium still has with Russia.
Signed at the end of the Cold War, the treaty rules out any "expropriation" of Russian assets.
However, the legality of that treaty is in doubt after the EU said that countries should not enforce any rulings from any court that go against the bloc's sanctions rules.
In the bloc's 21st sanctions package, adopted in July, the agreed text mentions "safeguards" to protect entities that uphold sanctions against outside legal pressure, albeit without specific details.
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"Nevertheless, we will need, with the support of experts if necessary, to find a legally sound solution that mitigates all these risks. Otherwise, Belgium will likely maintain its cautious reserve position," Prevot said.
"Let's see what the next few months bring," he added.
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Yep, this has consistently been the message.
"After the European Council meeting, De Wever explained that too few member states had agreed to back a liquidity safety net to guarantee the value of the Russian assets, leaving Belgium holding the bag if Russian claims in court succeeded or if the assets had to be returned under a peace deal. " https://www.theguardian.com/...
Every plan after that involving the Russian money had the same fundamental problem: no protection for Belgium. If Belgium would have to repay the entire sum on it's own, then it would be about €16000 per citizen.
I wonder what in the world finally convinced them. Are they not making enough money with the death of Ukrainians?
The minister also stressed that "at no point should Belgium's hesitations, or its refusal to make use of the frozen assets, be understood or interpreted as a lack of willingness to help Ukraine, and even less as a wish to provide any kind of help to Russia."
suuuuure
Kyiv independent is not independent !
Belgium is open to using frozen Russian assets to help Ukraine if Europe shares risks.
If Putin wants to hurt the EU he would encourage Ukraine to join. Mark my words.
What do you think EU farmers will say once Ukraine enters the market and receives EU money?
That is soo true. German farmers, instead of maybe rethinking what they advocate, who they vote for, rethink buissness and how to conduct farming in climat change climat of heat and drought, still advocate for faar right politics, against any climat protection actions, pull death threats to the government when the enormouse company farms would have to pay more for the diesel they're using, and now want even more money because climat change is killing them and their crops. I CANT FATHOM IT!!
Can you proof that they are bot accounts ? Why do you act as bigot and accuse all oppositions as a Russian bot ?
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This has been their stance from the beginning, though, no? Do whatever you want with the funds, but don't let us catch the heat for it, which is not a guarantee that was given
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