Belgian Prime Minister Opposes Confiscation of Russian Assets

• Belgium speaks out against the confiscation of Russian assets.
• Instead, these assets should remain frozen in Euroclear.
• Some EU countries support the confiscation, others do not.

This was reported by RBC Ukraine, Asharq Al-Awsat.

Belgian Prime Minister Bart De Wever expressed opposition to the confiscation of frozen Russian assets, which are mainly held in the Belgian depository Euroclear. In his opinion, these assets are better left frozen until the conclusion of peace negotiations between Russia and Ukraine.

De Wever noted that a large portion of these funds is located in Brussels at Euroclear, and any attempt at confiscation could have legal implications. Euroclear holds €183 billion of the €300 billion in frozen Russian assets that exist in Europe.

Confiscation of Russian Assets

After Russia's full-scale invasion of Ukraine, the European Union, G7 countries, and Australia froze nearly €3.3 trillion of Russian state assets. In April 2024, the EU approved the use of income from frozen assets to support Ukraine. Last year, Kyiv received €3 billion.

From the beginning of 2025, the EU will transfer €10.1 billion to Ukraine from the income generated from Russian funds frozen in European banks. However, Ukraine is relying on the confiscation of Russian assets as compensation for the damage caused. Not all EU countries support such a decision.

Earlier, it was reported that the European Union would not confiscate frozen Russian assets due to opposition from some countries. The main opponents of confiscation include Belgium, France, Germany, and Italy, while countries like Poland, the Baltic states, and the Scandinavian countries support the idea of confiscating assets for the benefit of Ukraine.

Tags: Russia/Europe/Politics/Economy