Merz Heads to Brussels to Win Belgium’s Backing for EU Plan on Frozen Russian Assets

Overview

• The German chancellor postponed a Norway trip to attend a Friday working dinner with Belgian Prime Minister Bart De Wever and European Commission President Ursula von der Leyen to build a European Council majority.
• Friedrich Merz said Germany could act as a potential guarantor to mitigate Belgium’s legal and financial exposure tied to the assets.
• The European Commission’s October plan would repurpose about €210 billion in Russian sovereign assets, including roughly €185 billion held at Euroclear, as a “reparation loan” for Ukraine in 2026–2027.
• Belgium blocked the proposal at EU summits on 1 and 23 October and is demanding concrete protections and shared liability before consenting.
• Russian officials warned of countermeasures if assets are expropriated, and Belgian lawmakers applauded De Wever’s refusal to hand over the holdings without guarantees, according to Euractiv.