While Donald Trump’s negotiator, Steve WitkoffAfter meeting again with Vladimir Putin in Moscow, the European Union intensified its pressure on Belgium to agree to send frozen Russian funds to Ukraine, in order to ensure the return of the Ukrainian government. Volodymyr Zelensky Be able to resist pressure from Washington and Moscow to surrender.
The Ursula von der Leyen Commission proposed Loan worth 140,000 million Euro for UkraineFunded by Bank of Russia assets tied up since the outbreak of war in the financial services company euroclear, Based in Brussels. But Belgium prevents him, fearing that Moscow’s revenge will fall only on its territory.
During the meeting of defense ministers of the 27 countries held on Monday in Brussels, the head of European Union diplomacy, Kaja Kallas, defended the continuation of this matter.Repair loan“Considering that”Best solution“To keep Kyiv afloat.
“It sends a very strong three-way message: to Ukraine, that we are here to help them defend themselves; A second message to Moscow: They will not be able to hold out longer than us; And a third message also to Washington that we are taking firm and credible measures.”
Belgian Prime Minister Bart de Wever sent a fiery letter to von der Leyen last week in which he claimed that “The proposed repair loan plan is completely wrong“.
This initiative can be viewed at the international level as “Illegal confiscation“, and therefore as”“Violating the rule of law, sovereign immunity and property rights,” De Wever says.
“This perception could reduce interest in holding or buying EU bonds, which would raise yields This would increase borrowing costs for member states“In addition to undermining confidence in Euroclear.”
“Investors are likely to demand higher premiums to compensate for the increased risk of expropriation. This would amplify the systemic risks for Euroclear and, by extension, for EU financial markets, potentially leading to The systemic crisis and the destabilization of the euro itself“Says the Belgian Prime Minister.
De Wever has made all these arguments in the past, but in his latest letter he adds a new argument that strikes directly at the Brussels waterline.
Defense Minister Margarita Robles speaks with European Union diplomatic official Kaja Kallas during the meeting held on Monday in Brussels.
“Moving ahead too quickly with the compensation loan scheme would have, as collateral damage, that we, as the EU, We will effectively prevent a final peace agreement“, he says.
“We must understand that Belgium is under great pressure. This is very clear“The High Representative for Foreign Affairs and Security Policy said when asked about De Wever’s letter.
“I am in no way diminishing Belgium’s concerns, but we can address them. We can take these risks together “We need to work on a viable solution to move forward with the remediation loan.”
The rest of the defense ministers who spoke also supported sending frozen Russian assets to Zelensky’s government. “It is time to use the reparations loan to support Ukraine, because… Ukrainians need financial resources to continue their strugglesaid Swedish actor Pall Jonsson.
“We need to use the frozen assets to ensure not only that Ukraine has sufficient support now, but also in the coming years,” says the Dutch Defense Minister. “Because if Putin feels that support for Ukraine is decreasing and that he is gaining ground every day, he will continue his aggression.” Robin Brekelmans.
“The only way to change your accounts is… Ensuring strong and also long-term support for Ukraine. “We can achieve this through bilateral aid, but we also need frozen assets.”
Trump’s original 28-point peace plan — which everyone in Brussels interpreted as a surrender by Kiev — called for investing $100 billion in frozen Russian assets in Syria. “US-led initiatives to rebuild and invest in Ukraine, with the United States receiving 50% of the benefits of this process.”
Washington’s interest in seizing the Bank of Russia’s funds frozen in Europe is another factor pushing Brussels to move quickly to stop Trump.
After holding a remote conversation with Zelensky, Emmanuel Macron and other European leaders, President von der Leyen announced that this week she will present the legislative proposal to cover the reparations loan.
He added: “We are united behind the peace agreement that brings justice to Ukraine. A state that fully defends Ukraine’s sovereignty and provides the necessary security guarantees“, wrote X on his account.
For his part, he said:The head of community diplomacy expressed her lack of confidence in the efforts of Trump’s envoy in Moscow, although she did not quote him directly.
Kallas said: “I fear that all the pressure will fall on the victim, that is, Ukraine will have to make concessions and bear obligations, while to achieve peace, we must not lose sight of the fact that Russia is the one who started this war, is the one who continues it, and is attacking civilian infrastructure daily to cause the greatest possible amount of damage.”
“Yes, I’m afraid all the pressure will be put on the weaker side, Because this is the easiest way to stop the war if Ukraine surrenders. But this benefits no one: neither Ukraine, nor the European Union, nor global security in general.”
“The Charter of the United Nations stipulates that borders cannot be changed by force. If this works, we will see it replicated in other parts of the world. Then we will see that whoever has power gets what he wants, which is not in the interest of the majority of countries in the world.”