Belgium rejected the reparations loan for Ukraine and instead proposed a joint loan of €45 billion

Even before the European Commission officially unveiled its plan to provide Ukraine with a reparations loan, which is due to be presented today, Belgium had already rejected it.

This was reported by Bloomberg.

“The text the Commission will present today does not address our concerns in a satisfactory way. It is unacceptable to spend the money and leave us alone to bear the risk. Our doors have always been and remain open, but we are worried by the feeling that we have not been heard. Our concerns are being ignored,” Belgian Foreign Minister Maxime Prévot said ahead of a meeting with European colleagues in Brussels.

The minister also called the idea of a reparations loan for Ukraine the worst possible option.

“The reparations loan option is the worst of all, because it is more risky than ever… The scheme of providing a loan for compensation of damages comes with economic, financial and legal risks. This explains why we continue to insist on a natural source of financing,” the Belgian foreign minister said.

Instead of a reparations loan, Belgium is proposing that Europe take out a joint loan for Ukraine in the amount of 45 billion euros.

Bloomberg notes that, as a result, approval of the funding by 18 December, as previously planned, now appears doubtful.

Recall that the idea of a reparations loan based on frozen Russian assets emerged in the EU in September.

If Ukraine does not receive the loan, the implementation of almost the entire state budget for 2026 will be in question.