Belgian PM Wants The Use Of Frozen Russian Assets For Ukraine Could Be Problematic

Belgian Prime Minister Bart De Wever/PHOTO via Instagram @bartdewever1

Belgian Prime Minister Bart De Wever proposed that Russia's frozen state assets since the beginning of Ukraine's war should remain in the securities repository of Euroclear in Belgium. According to him, the confiscation of these assets in Ukraine's interests will cause legal problems.

The G7 countries have frozen about 300 billion Russian state assets since Moscow's invasion of Ukraine in 2022. The European Union estimates 210 billion euros ($246 billion) of which are stored in the European Union, particularly in the form of government bonds in Euroclear's repositories.

"A lot of these funds were mobilized in Brussels in Euroclear. I know there is a government trying to confiscate the money. However, I want to warn that it's not that easy legally," Prime Minister Bart De Wever told reporters at a press conference with German Chancellor Friedrich Merz in Berlin. reported by Reuters, Wednesday, August 26.

De Wever said the assets included funds from Russia's immune-law central bank, meaning any political decision to confiscate them could have serious repercussions.

"Other countries will also withdraw their state funds. This will have a systemic impact and also be very dangerous from a legal perspective. I believe we must keep this country's funds mobilized," he said.

He said the use of the funds to help Ukraine was acceptable, but he warned against using its basics.

"It's like a goose laying gold. We have to keep this goose. And in the end, when we talk about a peace agreement, the goose can be placed on the table, until now I'm sure it's wise to keep the situation like it is today," he continued.

US President Donald Trump has led a new peace effort to end the war that has lasted for three and a half years.