Overview
- German Chancellor Friedrich Merz and European Commission President Ursula von der Leyen meet Belgian Prime Minister Bart De Wever today to try to overcome Belgium’s opposition.
- The Commission’s plan would raise about €90 billion for 2026–27 through a loan secured against immobilised Russian sovereign assets, covering roughly two-thirds of Ukraine’s projected needs.
- Belgium warns of legal exposure and potential retaliation if the assets back a loan, pressing for immediate, binding guarantees that other EU states will share any costs.
- Euroclear CEO Valérie Urbain argues the assets should be preserved for peace negotiations and cautions that tying them to a loan poses major legal and market risks.
- The UK is reportedly ready to release about £8 billion in Russian assets for Ukraine as Washington lobbies several EU countries to block the loan plan, with a decision targeted for the Dec. 18–19 EU summit.