German Foreign Minister: EU should fairly distribute risks regarding Russian assets
1 December 2025 11:17
German Foreign Minister Johannes Wadefull believes that the European Union countries should share financial risks if Russian state assets frozen in Europe are used to help Ukraine.
The German Foreign Minister said this on November 30, speaking on the ARD TV channel, "Komersant Ukrainian" reports.
According to Wadefull, it is very important to protect “Belgian interests” in order to use Russian assets. Belgium needs guarantees, and they should be “given jointly within the European family,” the German foreign minister said. He added that negotiations on this issue will continue next week, in particular, at a meeting of NATO foreign ministers on December 3 in Brussels.
Regarding the prospects for ending Russia’s war against Ukraine, Wadeful said that a “decisive week” in the negotiations is ahead. The minister was cautiously optimistic that “there is now a real chance for a ceasefire.”
The EU’s plan for Kyiv and Belgium’s concerns
Since the beginning of the fall, the EU has been discussing the possibility of providing Ukraine with reparations loans in the amount of about 140 billion euros in 2026 and 2027. It is planned to use the Russian Central Bank’s reserves frozen in Europe as collateral for this loan. This idea is actively supported by European Commission President Ursula von der Leyen and German Chancellor Friedrich Merz.
However, Belgium has not yet given its consent. This country is home to the Euroclear depository, which holds the bulk of Russia’s assets frozen in Europe. Belgium’s Prime Minister Bart De Wever demands that other EU countries share possible financial risks with Belgium.
“We want guarantees that, if the money needs to be returned, each member state will contribute,” De Wever said at the EU summit in October.
The Belgian prime minister also noted that some other EU countries “have huge amounts of Russian money” and that these countries should also participate in the program to help Ukraine.
In a letter to Von der Leyen in late November, De Wever also expressed the opinion that “hasty promotion of the reparations loan scheme” could lead to the disruption of peace talks in Ukraine.
According to the Süddeutsche Zeitung newspaper, the European Commission President is ready to fulfill Belgium’s conditions, but official confirmation from all EU partners is needed. The final decision on financial aid to Ukraine is expected to be made at the EU summit on December 18-19.
