Belgium balks at EU plan to seize Russian assets, citing fear of Kremlin retaliation

Category: GLOBAL GOVERNMENT & ALLIANCES

Summary:
German Chancellor Friedrich Merz and European Commission President Ursula von der Leyen are negotiating with Belgium regarding the handling of approximately €197 billion in frozen Russian assets held in the Brussels-based institution Euroclear. The European Commission proposes seizing these assets to fund a €165 billion package supporting Ukraine’s war efforts, but Belgian Prime Minister Bart De Wever opposes the plan, fearing it could provoke Russian retaliation against Belgium. Dmitry Medvedev, deputy head of Russia’s Security Council, warned the EU that seizing assets might be considered a casus belli. Belgium seeks financial guarantees from other EU states before agreeing and is concerned about potential liabilities if a sanctions deal with Russia is reached. The European Commission has indicated it may invoke emergency powers to advance the plan without Belgium’s consent if necessary.

Tags: European Commission, Belgium, Russian assets, EU sanctions, Ukraine support, asset seizure, emergency powers

Source Excerpt:

German Chancellor Friedrich Merz and European Commission President Ursula von der Leyen are in talks with a reluctant Belgium over what to do with billions of dollars in frozen Russian assets held in the country.According to the Belgian government, at least €197 billion (approximately $224 billion) of sanctioned Russian assets are held in Euroclear, a Brussels-based financial institution. The European Commission wants to seize these assets and transfer them to Ukraine as part of a €165 billion financial package for Ukraine (approximately $190) to help pay its bills and fund the war effort.  Prime Minister Bart De Wever is concerned that taking Russia’s assets could be interpreted as an act of war by Russia and provoke Russian President Vladimir Putin to retaliate against Belgium.EU OFFICIAL WARNS 'IMPUNITY' FOR RUSSIA WOULD MARK 'HISTORIC MISTAKE OF HUGE PROPORTIONS'Dmitry Medvedev, the deputy head of the country's Security Council, even threatened Brussels and its European allies in an inflammatory post on X."If the crazy EU does steal frozen Russian assets for a "reparations loan," we may view it as a casus belli with all the relevant implications for Brussels & Co.," the former ...

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Source: Fox News

Posted on 12-09-2025 11:04