Belgium demands signed EU guarantees before seizing Russian assets

The European Commission has proposed using the frozen funds, most of which are held by Belgium’s Euroclear, to back loans for Ukraine

Belgium will not acquiesce to the European Commission’s plan of leveraging Russia’s frozen central-bank assets to back loans for Ukraine without ironclad guarantees of shared responsibility, Prime Minister Bart De Wever has stated.

Western nations froze an estimated $300 billion in Russian funds after the escalation of the Ukraine conflict in 2022 – some €200 billion ($213 billion) of which is held by the Brussels-based clearinghouse Euroclear.

Speaking to reporters on the sidelines of an EU summit in Copenhagen…

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