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Why does Belgium oppose the EU plan to use Russian assets?
Belgium opposes the plan because of legal concerns and fears of financial instability. Belgian officials warn that confiscating and reallocating Russian assets could violate international law and set a risky precedent. They emphasize the importance of respecting legal norms and avoiding actions that could harm Belgium’s financial system.
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What are the legal risks of freezing and reallocating Russian assets?
Freezing and reallocating Russian assets involves complex legal issues, including questions about property rights and international law. Moving assets without clear legal authority could lead to lawsuits and damage Belgium’s reputation as a financial hub. The EU is trying to navigate these risks with legal proposals, but disagreements remain.
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How could this division impact EU support for Ukraine?
Disagreements within the EU over using Russian assets could slow down or weaken support for Ukraine. If member states like Belgium refuse to participate, it could limit the funds available and complicate efforts to provide aid. Unity is crucial for effective EU assistance, and internal disputes threaten that cohesion.
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Could this dispute affect EU financial stability?
Yes, the debate over Russian assets touches on broader concerns about financial stability. Moving large sums of frozen assets could create risks for European banks and markets. Belgium’s cautious stance aims to protect the stability of the EU’s financial system while balancing support for Ukraine.
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What are the alternatives if the EU can't use Russian assets?
If the EU cannot use Russian assets, it may seek other funding sources, such as increased contributions from member states or new financial mechanisms. The debate highlights the need for innovative solutions to support Ukraine without risking legal or financial stability.
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Will this dispute lead to a wider split within the EU?
Potentially, yes. The disagreement reflects deeper divisions over how to handle Russia and support Ukraine. Some countries prioritize legal norms and stability, while others push for more assertive measures. These tensions could influence EU unity on other foreign policy issues.