De Wever: Ukraine funding failure would be EU disgrace, but still ‘no’ to using Russian assets – POLITICO

BRUSSELS — Europe would face the “ultimate geopolitical embarrassment” if leaders fail to strike a deal to finance Ukraine, Belgian Prime Minister Bart De Wever told lawmakers in the country’s parliament ahead of Thursday’s crunch summit.

Belgium, the home of the Euroclear bank — which holds some €185 billion in immobilized Russian assets that the EU wants to use to finance Ukraine — has been a staunch opponent of using that money to help Kyiv. 

Addressing Belgian MPs on Thursday morning, just before the start of a summit at which leaders will be racing against the clock to agree financing for Ukraine, De Wever again voiced fears that the idea is “questionable” under international law and risks undermining the trust of financial markets and the credibility of Euroclear.