Germany says that despite diplomatic efforts, Russia has not done enough to engage in negotiations to end its war in Ukraine. Meanwhile, Europe has reached a deal to phase out all Russian gas imports. DW has the latest.
Using frozen Russian assets to fund Ukraine ‘only viable option,’ Dutch foreign minister says
Dutch Foreign Minister David van Weel has told DW that a European Commission plan to use frozen Russian assets as a loan guarantee is “the only viable option” for further financing Ukraine.
He was speaking on the margins of a NATO meeting as European Commission President Ursula von der Leyen was across town outlining the proposal to create a reparations loan, which would use Moscow’s immobilized assets as collateral. If and when Russia pays for the damage it’s caused Ukraine, the plan hypothesizes, Kyiv would repay the loan.
By far the biggest share of Russian assets in Europe are held by Euroclear in Belgium. The Belgian government insists, among other things, that the other EU member states share the risk of Moscow being able to reclaim the money.
Earlier Wednesday, Belgian Foreign Minister Maxime Prevot said the Commission’s proposals fail to address his country’s concerns
“We understand the Belgian concerns,” he said. “We need to appease them and give them peace of mind on how collectively we are going to help them in shouldering any burdens that might come forward. But we still believe that this is the most viable option and that we need to work towards that.”
Talks will continue on the proposal, with a summit of EU leaders later in December seen as key to getting the plan over the line, with money potentially being sent to Ukraine as early as the second quarter of 2026.
