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Following weeks of debate over whether Europe will use Russia’s frozen assets to finance a loan for Ukraine, the EU’s top diplomat expressed confidence on Monday that EU officials can get Belgium on board.
“I don’t in any way diminish the worries that Belgium has, but we can address those,” said Kaja Kallas, the EU’s high representative for foreign affairs, at a press conference.
Belgian Prime Minister Bart De Wever has emerged as the primary opponent of the plan. The majority of Russian frozen assets are held in the Belgium-based financial clearing house Euroclear, and De Wever has argued that his county could face legal or financial ramifications if Russia brings the issue to court.
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The Commission is still signalling it will present a legal text on how the scheme would work, including how Europe would collectively shoulder the ramifications De Wever is concerned about. A Commission spokesperson said on Monday the proposal would be presented in the “coming days.”
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The EU should just give all the assets to the Ukraine. Russia has destroyed infrastructure worth more than the assets are worth. Make them pay, and if this is the only way then this is the way.