Dec 5, 2025, 10:36 p.mDec 5, 2025, 10:36 p.m
Chancellor Merz on the way to Belgium’s de Wever.Image: keystone
At a meeting in Brussels, Germany’s Chancellor Friedrich Merz (CDU) once again promised Belgian Prime Minister Bart de Wever an even distribution of risk when using frozen Russian assets for Ukraine. “Belgium’s particular concern regarding the question of making the frozen Russian assets usable is undeniable and must be addressed in every conceivable solution in such a way that all European states bear the same risk,” said Merz, according to government spokesman Stefan Kornelius, after the conversation. EU Commission President Ursula von der Leyen also took part.
The three agreed that time was of the essence in the current geopolitical situation, it was said. They noted that financial support for Ukraine was of central importance for Europe’s security. According to the government spokesman, Merz, De Wever and von der Leyen agreed to continue their exchange with the aim of finding an amicable solution by the European Council on December 18th.
Most of Russia’s assets are stored in Belgium
Merz and von der Leyen have been trying for weeks to persuade De Wever to give up his opposition to a plan to use frozen funds from the Russian central bank for Ukraine. The Belgian plays a central role because a large part of the assets, around 185 billion euros, are managed by the Brussels financial institution Euroclear.
De Wever rejected the plan until the end, citing legal and financial risks. He fears for the existence of Euroclear and also sees the danger that Russia will retaliate against other European private individuals and companies and, for example, carry out expropriations in Russia.
De Wever had named three conditions as prerequisites for Belgium to take part, regardless of the dangers. It must therefore be guaranteed that all possible risks are shared and, from the first moment of implementation of the plan, there must be sufficient financial guarantees to meet potential financial obligations. (sda/dpa)