00:00Belgium has forcefully pushed back against a new attempt to tap into the Russian central
00:05bank's immobilized assets to provide additional support to Ukraine.
00:09The topic was once again raised to discussion after Sweden, Spain, the Netherlands and Poland
00:15relaunched a push to use the assets to fund Ukraine's budgetary and military needs.
00:21Belgian Foreign Minister Maxime Prevost said he fought back against the proposition in
00:25a meeting of EU foreign ministers in Ireland, which according to him, killed enthusiasm among
00:31colleagues. The European Union holds 210 billion euros in these assets, the bulk of which is kept
00:38at Euroclear, a depository in central Brussels. Prevost reiterated that Belgium still holds the
00:44same opinion, one that is critical of the use of these assets to fund Ukraine, especially the
00:50legality of it and the exposure it opens Belgium to, particularly if those assets are confiscated.
00:56Belgium last year objected to the move saying the bulk of any consequences, legal and otherwise,
01:02would fall on Belgium, suggesting that all EU members should collectively share the burden.
01:07Russia's central bank sued Euroclear last year when the proposal to seize its assets was first tabled,
01:13which was ultimately abandoned as the EU instead opted to collectively finance a 90 billion euro loan.
01:20But as Ukraine's monetary needs continue to climb, particularly with minimal assistance from
01:25the US under Donald Trump, the bloc is actively searching for ways to maintain its financial
01:31support to its embattled allies.
01:32Wow.
01:32I love your energy.
01:33Bye.
01:33Bye.
01:34Know.
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