Speaking to TVP World, Hugo Dixon, commentator-at-large at Reuters, called the move “a very important first step” toward a proposed €165 billion reparations loan for Kyiv, though major political hurdles remain. Until now, the EU required unanimous agreement every six months to maintain the freeze, giving Hungary repeated leverage to threaten a veto. By invoking an EU treaty clause related to economic emergencies, member states were able to extend the freeze indefinitely through qualified-majority voting. Dixon said the legal and political rationale is straightforward: Russia’s invasion has inflicted severe economic damage on Ukraine, and returning frozen assets would only compound that harm. Belgium, however, presents a more complex challenge. Roughly €185 billion of the frozen Russian assets are held at Euroclear, the Belgium-based financial services company. “Forcing Belgium to hand over that money against its will is going to be tough diplomatically,” Dixon said. Unlike Hungary, Belgium exercises direct jurisdiction over the assets, meaning persuasion, not procedural maneuvering, will be decisive. Belgian Prime Minister Bart De Wever’s visit to London may prove pivotal. The United Kingdom is preparing to release around €10 billion of its own frozen Russian assets. Dixon argued that if Prime Minister Keir Starmer signals that Britain is prepared to act in parallel, it could help reassure Belgium and foster the sense of collective responsibility it has demanded. “United, Europe, the UK and Norway have economies over ten times larger than Russia’s,” Dixon said. “If we stand together, Putin cannot pick us off one by one.” Dixon warned that the United States, under President Donald Trump, is pursuing a sharply different approach, one he described as seeking to take control of the assets and return much of their value to Russia as part of what he called a “capitulation deal.” Such a plan, he argued, would weaken Ukraine’s defenses while rewarding Moscow. For Europe, Dixon said, the choice is stark. A reparations-backed loan would strengthen Ukraine’s negotiating position, countering both Russian aggression and pressure from Washington. “Europe needs to stand on its own two feet,” he said. “Unless we are strong, we are going to be bullied.”