Belgium Holds Firm at EU Summit as €185 Billion Russian Assets Plan Stalls
Belgian Prime Minister Bart De Wever held firm to his veto at the October 15-16 EU summit in Brussels, blocking agreement on deploying roughly €185 billion in Russian central bank assets held at Euroclear toward Ukraine's war effort. Ukraine faces an unresolved $78 billion external financing gap for 2027 — about $45 billion for military operations and $32.6 billion to keep civilian government functions running — even as the EU declared 2026 needs fully covered.
European leaders at the summit also discussed European competitiveness, particularly energy prices, the EU's long-term budget for 2028-2034, continued support for Ukraine, Russia-linked hybrid attacks in Europe, migration, enlargement and reforms, and the situation in the Middle East.
Russia's legal counteroffensive has escalated: a Moscow court ordered Euroclear to pay approximately $249 billion on May 15, and Euroclear responded by filing its own suit in Brussels on June 30. Because the bulk of the frozen Russian sovereign assets are held at Brussels-based Euroclear, Belgium's position is decisive for any plan to use them. Discussions on Ukraine financing are expected to continue at subsequent meetings. (GSM, based on Brussels summit reports)
Source: GSM · USA (original Chinese edition)
Photo: 布鲁塞尔欧盟委员会贝尔莱蒙大楼。 Photo by EmDee, Wikimedia Commons, CC BY-SA 4.0.
