Belgium may back Ukraine compensation loan from frozen Russian assets if EU meets three conditions

Belgian Prime Minister Bart De Wever said the country could support granting Ukraine a so-called reparation loan funded by frozen Russian assets, provided the European Union meets three conditions.

He wrote on social platform X that using assets held by Euroclear carries risks for both Belgium and Europe, making “full mutual risk-sharing” the first requirement. Compensation claims for unlawful expropriation could exceed the value of the assets and include compound interest and unrealised profits, he said, adding that guarantees must cover all potential liabilities from day one.

The second condition is ensuring liquidity and risk protection — Belgium wants certainty that Euroclear would have sufficient resources should it face sanctions or compensation claims from Russia.