The EU predicts it will be a "crucial week" but is stuck when it comes to helping Ukraine

BrusselsNor to The European Union is facing a critical moment. It is capable of reaching agreements quickly. The EU's own High Representative for Foreign Affairs and Security Policy, Kakha Kallas, described this week as "crucial" for negotiations on the war in Ukraine and, in turn, admitted that Monday's EU Defense Council meeting ended without any progress on the EU initiative to allocate Russian funds currently frozen within the bloc to aid Kyiv. This measure has been on the EU table for months and, according to European leaders themselves, is crucial for continuing to support Volodymyr Zelensky's government and increasing pressure on Vladimir Putin's regime. The use of €140 billion of this Russian money to finance Ukraine has always been a controversial measure, but over time, more and more European partners have defended it and see it as a good option for continuing to support Kyiv without further straining resources. However, one country is proving to be a stumbling block: Belgium. The Russian money is held in a Brussels-based investment fund, Euroclear, and the government led by Bart De Wever fears that this violates international law, leaving Belgium to bear the consequences alone. The European Commission, under Ursula von der Leyen, has been increasing pressure on the Belgian government, even threatening other, far less attractive options for member states, such as issuing more common debt at the EU level. However, instead of backing down, the Belgian executive is increasingly obstructing the process. This weekend, De Wever sent a letter to the President of the European Commission asserting that the initiative could be considered an "illegal appropriation" that could ultimately trigger a euro crisis.

One of the main fears of the De Wever government is that Putin will retaliate against Belgium and, among other consequences, that Belgium will have to return all that money to Russia in the future. For this reason, Brussels has consistently assured that any eventual liabilities would be borne by the European Union as a whole and claims to have legal guarantees that the measure complies with international law. The President of the European Council, António Costa, is so convinced that the leaders of the member states will reach an agreement that he warned that at the next European summit on December 18 and 19, they will not leave the table until it is finalized.

The EU puts its foot down on Trump

The discussion about the use of Russian money that is frozen in EU territory has accelerated since Trump He handed Zelensky the 28-point peace plan, which granted Putin his maximum demands to the detriment of Ukraine and the interests of the EU.One of these points stipulates that €86 billion of the €300 billion that the Russian state has frozen in all G7 economies will be managed by the United States, even though they are within the EU. "The US will receive 50% of the profits from this operation," states the text agreed upon between the White House and the Kremlin. Furthermore, the plan obliges the EU to contribute €100 billion to rebuild Ukraine, while making no request of Russia. The leaders of the member states, as well as Zelensky, strongly opposed the US-Russian plan and made a counterproposal that eliminates this point. In fact, some political analysts see the fact that the European bloc holds so many frozen Russian funds and that Trump views this as a business opportunity as a trump card for the EU to leverage its negotiating position. "Russian assets based in Brussels cannot be handed over to the Americans. It's unthinkable," said German Chancellor Friedrich Merz.

Leaders such as French President Emmanuel Macron, the President of the European Council, and the EU's High Representative for Foreign Affairs and Security Policy expressed similar sentiments. Kallas insisted at Monday's press conference that Russia should pay for Ukraine's reconstruction, whether through the EU's frozen funds or by other means. And, aiming to prevent Putin or Trump from getting their way on issues like this, she reiterated her call for the European bloc to have a seat at the negotiating table regarding the war in Ukraine. "The Ukrainians are alone. If they were with the Europeans, they would undoubtedly be in a much stronger position," the former Estonian Prime Minister added.