Belgium Rejects EU Plan to Tap Russian Assets for Ukraine

Belgium dismissed the European Union’s new legal proposal to tap frozen Russian assets to back a loan for Ukraine.

The remarks come just hours before the European Commission, the EU’s executive arm, is expected to release a legislative proposal that would authorize the bloc to use up to €210 billion ($244 billion) in immobilized Russian central bank assets to back loans for Ukraine as it fights off Russia’s onslaught.