Ukraine has not abandoned the confiscation of Russian frozen assets, Ukrainian Foreign Minister Andriy Sybiha hinted on Tuesday during a press conference in Kyiv with Belgian Foreign Minister Maxime Prévot.
"Russia is destroying our infrastructure, our civilian population. This issue must remain on the agenda," he explained. "This is not just a Ukrainian war. Ukraine is a shield for Europe and is paying the highest price, with the death of its soldiers."
The Ukrainian foreign minister estimated the damages inflicted by Russia at around $600 billion. The Russian assets frozen in Euroclear accounts in Brussels are valued at approximately $200 billion.
While Sybiha thanked Belgium for its support and described it as a "leading country", he added that it could further support Ukraine by utilising the Russian assets. "We hope to reach a decision, a collective responsibility regarding these assets," he said.
Reignited debate
At the end of last year, Belgium engaged in a diplomatic battle to prevent the confiscation of these assets, fearing severe financial consequences and a lack of solidarity from other member states. The Member States ultimately agreed on a loan of €90 billion for the period 2026-27.
However, in northern Europe, some countries are ready to revive the debate, notably the Netherlands, according to several media reports in May.
Minister of Foreign Affairs Maxime Prévot and Ukraine's Foreign Minister Andriy Sybiha pictured during a visit to Kyiv, Tuesday 18 August 2026, part of a visit of the Belgian Foreign Minister to Ukraine. Credit: Belga/Benoit Doppagne
"We hope this war will find an end, but without false naivety, we can fear that it will not be in the coming months, nor even before the end of 2027. Belgium has heard remarks from some capitals in recent weeks and expects the debate to come back to the table, but the risks we have identified have not miraculously disappeared," Prévot (Les Engagés) remarked.
"We have no principled opposition to the idea that this money could serve the Ukrainian cause. We need to find a robust way on principles that also mitigates risks; otherwise, Belgium will maintain its position of prudential reserve," he warned.
The Belgian minister also emphasised that "at no point can Belgium's hesitations or refusals be interpreted as a refusal to help Ukraine or to support Russia."
Prévot in Ukraine
The Belgian Foreign Minister arrived in Ukraine on Tuesday morning for a two-day working visit.
The first stop was the capital, Kyiv, where he met with various political figures, including Sybiha. Due to alerts, the meeting took place in a bunker at the Ministry of Foreign Affairs.
Minister of Foreign Affairs Maxime Prévot and Ukraine's Foreign Minister Andriy Sybiha pictured during a visit to Kyiv, Tuesday 18 August 2026, part of a visit of the Belgian Foreign Minister to Ukraine. Credit: Belga/Benoit Doppagne
This is the Belgian minister's fourth visit to Ukraine. The head of diplomacy aims to express Belgium's support for the country, which has been a victim of a large-scale Russian invasion since 24 February 2022.
"Every day, civilians are still being killed by Russian missiles and drones. We cannot get used to this war. Belgium continues to help Ukraine defend itself and to maintain pressure on Russia. The path to peace cannot go through Ukraine's exhaustion," the minister emphasised.
He added: "Our support must enable [Ukraine] to hold out and negotiate without having to accept Moscow's conditions. A lasting peace cannot be decided behind the backs of Ukrainians: it must be acceptable to those defending their country and who have been paying the price of this war for years. Europe must be at the table too, because its own security is also at stake in the outcome of this conflict."
Minister of Foreign Affairs Maxime Prévot and Ukraine's Foreign Minister Andriy Sybiha pictured during a visit to Kyiv, Tuesday 18 August 2026, part of a visit of the Belgian Foreign Minister to Ukraine. Credit: Belga/Benoit Doppagne
Since the invasion began, Belgium has allocated €4.4 billion to support Ukraine. While military aid, which constitutes the largest part of the assistance, is particularly prominent, Belgium is also engaged in civil support. A budget of €150 million is planned for the period 2025-2028.
This visit comes at a time when Ukraine has experienced intense Russian strikes in recent weeks but has also managed to hit targets within the vast territory of its aggressor. According to the UN, July was the deadliest month since May 2022.
Related News
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- Belgium in Brief: Making eyes at Euroclear
This article was updated to include more information.
