Von der Leyen presents plan to use Russian money

As an alternative to the plan, von der Leyen also presented a concrete proposal for Ukraine to take on new EU debt. However, numerous countries such as Germany reject this and are hoping to break Belgium’s ongoing resistance to the use of Russian funds. The EU country plays a central role in the project, as a large part of the Russian funds there is currently managed by the company Euroclear.

The Belgian government has so far justified its rejection with legal and financial risks. She also sees the danger that Russia will retaliate and expropriate European private individuals and companies in Russia.

Commission proposes protection mechanisms for Belgium

In order to allay the Belgian government’s concerns, von der Leyen also presented proposals for protective mechanisms. However, the details should only be made known after consultations with the member states.

When presenting the package, Von der Leyen once again advocated the use of Russian funds. This increases the costs of Russia’s war of aggression, she said. This should be an additional incentive for Russia to come to the negotiating table.

Ideally, a decision should be made at a meeting of the heads of state and government of the EU states in Brussels in around two weeks. The basic concept has been known for several months and is also supported by Chancellor Friedrich Merz (CDU). It stipulates that Russia will only get the money back if it makes reparations payments after an end to its war of aggression against Ukraine. In the event that the frozen Russian money had to be unexpectedly released again, for example as a result of international judgments or deals, the EU states would only have to provide guarantees.