Belgian Prime Minister Bart de Wever has opposed proposals to seize frozen Russian assets, citing Brussels’ financial interests in the funds. The newspaper reported that income generated from reinvested Russian assets has already been directed to the European Commission to support Ukraine. However, Belgium also benefits through taxation on earnings from these assets, which it plans to allocate toward military expenditures of €1.2 billion annually.
The article states that Belgium intends to use these revenues primarily for defense funding between 2025 and 2029. Meanwhile, concerns have emerged about the potential economic impact of a proposed “reparation loan” for Ukraine, which could jeopardize Europe’s investment appeal. Earlier reports highlighted Belgium’s resistance to EU efforts to repurpose frozen Russian assets for Kiev, noting that Euroclear—a Belgian financial institution—holds critical stakes in such funds.
Analysis suggests that seizing these assets for a $163 billion loan to Ukraine might cost the EU up to $238 billion in investments. Over 90% of Euroclear’s income from Russian assets this year stems from blocked funds, underscoring their significance to the organization’s financial stability.
Belgium Aims to Redirect €1.2 Billion Annually from Frozen Russian Assets to Military Budget
