Home › Archive › In the Media › Forbes Ukraine | “To Save Face for Belgium.” Five reasons why Belgium is blocking the reconstruction loan for Ukraine. Is it possible to break the veto? Forbes Ukraine analysisForbes Ukraine | “To Save Face for Belgium.” Five reasons why Belgium is blocking the reconstruction loan for Ukraine. Is it possible to break the veto? Forbes Ukraine analysis
The proposed reparations loan for Ukraine, backed by frozen Russian assets, has encountered resistance within the EU, mainly due to Belgium’s firm stance. While legal concerns play a role, the blockade is also shaped by domestic political considerations and fears over fiscal stability. Despite these obstacles, a compromise may still emerge ahead of the December European Council summit, particularly if risk-sharing mechanisms are clarified and pressure from other member states increases. Commented by Martin Vokálek, Executive Director and Head of the Brussels Office of the EUROPEUM Institute.
13. December 2025
“The debate over the reparations loan has gone beyond Ukraine itself and has become a test of the European Union’s strategic autonomy. While external pressure is making some governments more cautious, it should not prevent the EU from acting in its own security interest.”
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