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Ukraine’s allies in Europe are trying to find support for harnessing frozen Russian assets again

The crisis meeting between the German chancellor and the Belgian premier is aimed at unblocking the reparations loan to Ukraine. It comes as Ursula von der Leyen offered sweeping guarantees to protect Belgium.

The reparations loan for Ukraine will prove to Washington that Europe is taking "very credible" steps to end Russia's war, High Representative Kaja Kallas said on Monday. It comes after the Belgian prime minister warned that the unprecedented proposal risked derailing the diplomatic process.

Belgian Prime Minister De Wever lashed out at plans for a reparations loan in a strongly worded letter to Ursula von der Leyen, calling it dangerous and wrong. European officials are seriously considering a bridge loan as clock ticks for the December summit. Belgian resistance is seen as entrenched.

EU plans to use frozen Russian assets to help Ukraine have prompted warnings that the move could push up government borrowing costs. But experts told Euronews Business that any impact on European debt markets is likely to be limited.

Prime minister says proposal violates international law and would destabilise financial markets

Hopes to secure a reparations loan for Ukraine have been dashed after the Belgian prime minister blasted the proposal as "fundamentally wrong" and called on the EU to raise fresh debt instead of touching the Russian assets.

Europe is considering seizing billions in Russian assets to support Ukraine, as proposed by U.S. President Donald Trump

Foreign ministers express misgivings about draft US-Russian peace plan favourable to Putin