Belgium's Prime Minister warns EU against seizing Russian assets

Belgian Prime Minister Bart De Wever has warned the European Union regarding the legal and economic risks of publicly advocating for the seizure of frozen Russian assets. Speaking to the Federal Advisory Committee for European Affairs, De Wever cautioned that even discussing the confiscation of these funds—even without a formal decision—could trigger significant legal consequences and retaliatory measures.

De Wever specifically criticized Dutch Prime Minister Rob Jetten for publicly calling for the use of frozen Russian funds to finance Ukraine. The Prime Minister noted that some newer European leaders are reviving proposals that had previously been dismissed due to various objections. He expressed concern that such discussions could undermine global trust in the European financial system.

A significant portion of frozen Russian central bank assets, estimated at approximately 200 billion euros including expected interest, is held by Euroclear in Brussels. While a 90 billion euro compromise loan has been arranged for the current and upcoming year, funding gaps remain, with Ukrainian President Volodymyr Zelensky recently requesting an additional 70 billion euros for next year's budget.