OREANDA-NEWS  The European Commission is speeding up the negotiation process with Belgium in order to resolve the issue of using Russian frozen assets to secure a planned "reparation loan" to Ukraine, Politico reports.

An unnamed official told the newspaper that in the coming days negotiations will be held at all levels, including the highest.

Citing two other sources, the publication notes that if it is possible to eliminate the causes of Belgium's concern, the EC will officially propose a bill on the "reparation loan" within a few weeks.

Two other informed EU officials told Politico that "the European Parliament is likely to participate in the drafting of the bill."

"This could delay the process and jeopardize the EC's hopes of receiving 140 billion euros until April 2026, when Kiev is expected to run out of money," the newspaper writes.

Earlier it was reported that the EU is considering the possibility of using Russian frozen assets in the amount of about 170 billion euros, which are currently stored in the Euroclear financial depository in Brussels. It was assumed that 140 billion euros of these funds would be used for a "reparation loan" to Ukraine.

Belgian Prime Minister Bart De Wever earlier expressed concerns about such plans at an informal EU summit in Copenhagen. He stated that the European Commission's scheme for the use of frozen Russian assets is essentially equivalent to confiscation. De Wever demanded more guarantees from the European Union for his country, pointing out the possible legal consequences of such a step.

Earlier this week, Politico reported, citing sources, that the EC had warned EU countries: in the absence of agreements on the use of frozen Russian assets, they would have to provide support to Ukraine from their own budgets.