Belgium stalls EU plan for Ukraine loan

Belgium held the line at an EU summit, stalling a plan to fund a €140 billion “Reparations Loan” to Ukraine with cash balances generated by immobilised Russian central bank assets at Euroclear. Prime Minister Bart De Wever demanded full risk-sharing and firm guarantees from all members, warning of retaliation if assets must be returned; Hungary outright rejected the idea. Leaders instead asked the Commission to present options for 2026–2027. Von der Leyen said leaders agreed on the 'what' and must work on the 'how'; ECB chief Christine Lagarde deemed the plan feasible, as Volodymyr Zelenskyy urged approval next year.

Reviewed by JQJO team

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