BELGIUM, BRUSSELS, DEC. 18 — On Dec. 17, a protest demanding that Belgium stop blocking on the reparation loan for Ukraine, secured from frozen Russian sovereign assets, took place in Brussels, said the press release provided by International center for Ukrainian victory to Gwara Media. 

Calling on  Belgium to immediately stop blocking the reparation loan for Ukraine,

participants urge the EU to adopt a decision that strengthens both Ukraine’s and Europe’s security and to turn frozen Russian assets from passive reserves into a tool to deter aggression. 

The protests are organized by the European Network in Solidarity with Ukraine (ENSU-RESU), the International Centre for Ukrainian Victory (ICUV), the Belgian-Ukrainian Advocacy Group, and partner organizations across Europe.

After the postponement of providing €140 billion for Ukraine as a reparation loan using frozen Russian assets, EU leaders decided to return to this issue during the summit in European Parliament on Dec. 18-19.

Euroclear, the financial institution that is located in Belgium, holds a vast majority of the Russian assets. 

On Dec. 18, the Belgian Prime Minister Bart De Wever said that proposals for financing Ukraine in 2026 and 2027 are still being discussed, despite expectations of an informal deadline today.

“The loan proposed to Ukraine for reparations carries legal, financial, and economic risks and offers no reliable guarantees,” De Wever said.

Earlier, De Wever said that the EU should provide guarantees for Belgium to avoid potential risks if Belgium has to return this money to Russia. He also noted that other countries with frozen Russian assets on their territory should participate in providing reparations loans to Ukraine.

The EU is weighing alternatives to “reparations loans” based on frozen Russian assets as it prepares a 2026–2027 financing plan for Ukraine, considering joint EU state loans and supplementary bilateral loans if Belgium refuses to join the main scheme. An EU official told European Pravda, Ukrainian media outlet, that most member states still prefer the interest-free reparations-loan model, while informal talks on all options continue ahead of a final decision at the European Council on Dec. 18–19, with negotiations with Belgium ongoing but viewed as ultimately solvable.

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