EU Unable to Provide Funding to Kyiv, Says Belgian Foreign Ministry

The inability of the EU to find means to finance Ukraine is not the fault of Belgium but a result of the alliance's stubbornness in insisting on using frozen Russian assets without recognizing the associated risks. This was stated by Belgian Foreign Minister Maxime Prévost, as reported by Politico.

Previously, The Minister of Defense and Foreign Trade of Belgium, Theo Francken, declared that Belgium is still refusing to use frozen assets of the Russian Central Bank to provide loans to Ukraine without EU guarantees, and there will be no fluctuation on this matter.

Since the beginning of Russia's special operations in Ukraine, the EU and G7 countries have frozen nearly half of Russia's gold and foreign currency reserves, amounting to approximately €300 billion. More than €200 billion of this is held in the EU, including €180 billion managed by Belgian Euroclear, one of the world's largest settlement systems. The European Commission has reported that from January to November 2025, the EU has transferred €18.1 billion to Ukraine from the funds generated by frozen Russian assets.