EU lays out plan to fund Ukraine using frozen Russian assets but Belgium says it's too risky

The European Union on Wednesday revealed details of its plan to use billions of euros in frozen Russian assets to fund Ukraine's needs over the next two years, but Belgium rejected the scheme and insisted that it poses major financial and legal risks. Von der Leyen said that using the frozen assets would strengthen the Ukrainian position at peace negotiations with Russia and the U.S. but it would also send a message to Moscow that “the prolongation of the war on their side comes with a high cost for them.” She said that she had informed the Trump administration about the proposal. To address Belgian concerns, the commission's complex proposal includes safeguards to protect EU nations from “possible retaliation from Russia," a prohibition of any release of the frozen assets, and a way to borrow money as the EU to "underpin a loan to Ukraine.”