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Ouassima Oualkadi is an international journalism student with a focus on European Union politics and the Middle East. As a passionate beginner, she brings curiosity, determination, and a growing global perspective to her reporting. Ouassima is eager to expand her skills, explore complex political narratives, and contribute thoughtful, well-researched journalism to a wider audience.

Belgium resists, Italy remains cautious as EU debates use of frozen Russian assets

Italy has joined Belgium in urging the EU to explore alternatives to using frozen Russian assets to fund Ukraine. 

According to POLITICO, Italy has strongly backed Belgium’s opposition to the EU’s plan to use €210 billion of Russia’s frozen state assets to support Ukraine’s economy. 

Other countries, such as Malta and Bulgaria, joined Belgium in criticising the European Commission’s efforts to finalise the plan ahead of the EU summit on Dec. 18–19. 

They propose alternatives such as issuing joint EU debt or establishing loan facilities to fund Ukraine. They also voice scepticism about the Commission using emergency powers to extend the freeze and potentially seize assets.

However, issuing a joint EU debt could increase national debt for countries like Italy and France, and the measure would require unanimity, giving countries like Hungary veto power.

Prime Minister Giorgia Meloni has repeatedly backed sanctions on Russia, while Deputy PM Matteo Salvini has taken a Russia-friendly stance and supports Donald Trump’s peace plan.Belgium warns it could be liable to repay Russia if Moscow successfully challenges the use of these frozen assets held at Euroclear in Brussels.

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