The EU found €90 billion for Ukraine and temporarily avoided the explosive question of confiscating Russia’s sovereign reserves. But more than €200 billion remains immobilised at Euroclear, and the battle has now shifted from European summits to courtrooms in Moscow, Brussels and Luxembourg. The question Europe postponed is becoming harder to avoid: who ultimately gets the money?
Sweden, the Netherlands, Spain and Poland are pushing Brussels to revive the reparations-loan mechanism, reopening a debate that goes far beyond Ukraine’s financing needs and directly into Belgium’s legal exposure and the euro’s credibility as a reserve currency.
Belgium’s hardline stance on Russian frozen assets shakes European plans and adds drama to the upcoming Eurogroup vote.
Belgian judicial authorities will announce later this week whether Greek MEP and former European Parliament vice president Eva Kaili should be released from pre-trial detention with an electronic bracelet, her lawyer has said on Tuesday.
Greece finished the deal and locked up their spot in the World Cup as they fought past a determined Belgium 72-70 on the road.
