Belgian Prime Minister Bart De Wever commented on Russia’s recent threats concerning frozen assets in the West. In his statement during a briefing in Copenhagen, he emphasized that the Belgian authorities will not allow the return of these funds to the Russian government and called for transparency in the asset distribution process.
This is reported by Kyiv24
Belgium’s Reaction to Russia’s Ultimatums
“I am already hearing from Moscow: ‘If you touch our money, you will face consequences for eternity.’ That’s a long time – eternity. I think it also means in Russian: ‘perhaps we will send you into eternity,’” he said during a press interaction in Copenhagen this morning.
Bart De Wever stressed that he does not wish for the frozen funds to be returned to Vladimir Putin and expressed concern over the lack of clear legal mechanisms for implementing the idea of reparations loans for Ukraine. According to him, all the questions he raised still remain unanswered, prompting him to publicly call on his colleagues for transparency and coordinated action.
The Prime Minister noted that most of Russia’s assets are located not only in Belgium but also in other EU countries; however, Belgium is directing the profits from these funds to support Ukraine. He emphasized the need for transparency regarding the amounts of frozen assets, their distribution, and the use of profits from them among all European countries.
Amounts of Frozen Assets and Prospects for Their Use
According to reports, approximately $300 billion of sovereign assets of the Russian Federation are under sanctions in Europe, of which about €190 billion are held in the international depository Euroclear in Belgium. At the same time, around €30 billion are blocked in the United Kingdom, and €19 billion in France.
EU leaders discussed the possibility of providing Ukraine with a reparations loan on October 1, but no joint decision has been made yet. The idea involves transferring cash accumulated from the Russian Central Bank’s bonds in Euroclear (approximately €176 billion) to finance a loan for Ukraine. Ukraine will only repay this loan if damages are compensated by Russia. The Kremlin has labeled such an initiative as “pure theft.”
Meanwhile, on September 30, Russian President Vladimir Putin signed a decree on a new procedure for the sale of federal assets, and according to Bloomberg reports, Russia may nationalize and quickly sell foreign assets in response to possible confiscation of its funds abroad.