Day: September 26, 2025

Belgian Prime Minister Bart De Wever on Friday firmly rejected a proposal by German Chancellor Friedrich Merz to use frozen Russian central-bank assets to finance a large loan for Ukraine. “Taking Putin’s money and leaving the risks with us. That’s not going to happen, let me be very clear about that,” De Wever said in New York, reports 24brussels.

In an opinion piece published in the Financial Times, Merz suggested that these frozen assets could be leveraged to extend an interest-free loan of around 140 billion euros to Ukraine, which would be repaid only after Russia compensates Ukraine for war damage.

Approximately 170 billion euros in frozen assets are currently managed at Euroclear in Brussels. Presently, only the interest accrued from these blocked assets is being allocated to support Ukraine. However, Belgium has declined to utilize the principal, citing concerns over potential arbitration claims and the possibility of being compelled to return those funds in the future.

Using the frozen Russian funds for a loan to Ukraine would place a significant burden on Belgium’s public finances. The Belgian government is relying on a 25 percent corporate tax derived from Russia’s assets to help fulfill its commitment to increase defense spending to 2 percent of GDP. Should the EU back Merz’s initiative, De Wever would be forced to seek alternative revenue sources.

Dangerous Precedent

During discussions at the UN General Assembly, De Wever declared that such a move “will never happen.” He warned that seizing the central-bank assets of a foreign nation would create a hazardous precedent, not only for Belgium but also for the entire EU.

“If countries see that central bank money can disappear if European politicians see fit, they might decide to withdraw their reserves from the eurozone,” he asserted.

De Wever expressed his discontent with Merz’s public pronouncement, noting, “I told everyone: I am happy to speak. But let’s talk and come up with something, rather than sharing an opinion every day. I find that quite frustrating.”

Protests Erupt in Ecuador Over Fuel Policy Changes

Protests erupted in Ecuador on Thursday following President Daniel Noboa’s decree eliminating the state diesel subsidy, resulting in a sharp price increase from $1.80 to $2.80 per gallon. The Confederation of Indigenous Nationalities of Ecuador (CONAIE), the largest social organization in the country, demanded the immediate release of detained protesters and criticized the government for transferring detainees to dangerous prisons, reports 24brussels.

CONAIE stated that at least ten demonstrators had been moved to prisons in Portoviejo and Machala, coinciding with a massacre in the latter facility that claimed 17 lives. The organization condemned the government’s actions, holding it accountable for criminalizing social protests and endangering the lives of community members.

According to the Interior Ministry, authorities have detained 85 individuals nationwide since the unrest began earlier this week. CONAIE accused the state of failing to ensure prison security and demanded “full respect for human rights and effective guarantees for life,” reiterating their call for the release of the detained protesters.

CONAIE president Marlon Vargas expressed solidarity with the imprisoned participants, urging all sectors of Ecuador to join the ongoing strike. “The strike continues to grow. We invite all peoples and sectors of Ecuador to join. We condemn the arrogance of the national government,” Vargas stated on social media.

The protests stem from the government’s controversial fuel policy, which has intensified frustrations among various sectors of society already grappling with economic challenges. As tensions escalate, the potential for further unrest looms large, highlighting the ongoing conflict between citizen demands and government actions in Ecuador.

In light of these developments, the international community is closely monitoring the situation, emphasizing the need for dialogue and resolution to safeguard human rights and ensure public safety.