Belgium Blocks Use of Frozen Russian Assets for Ukraine

Belgium remains firmly opposed to using frozen Russian assets for Ukraine's benefit, citing legal and financial risks, despite renewed calls from Sweden, Poland, the Netherlands, and Spain to reconsider the plan. The assets, mostly held in Belgium's Euroclear, remain frozen due to Belgium's veto.

Consensus

Belgium opposes using frozen Russian assets for Ukraine.
The majority of frozen Russian assets are held in Belgium's Euroclear depositary.
Belgium has blocked previous attempts to use the assets, citing legal and financial risks.
Sweden, Poland, the Netherlands, and Spain have recently called for a renewed discussion on using the assets.
The issue remains unresolved due to Belgium's stance.
The frozen assets are valued at around €200–300 billion.

Points of divergence

Russia's embassy in the Netherlands warned that The Hague is pursuing plans to confiscate Russian assets in Europe, calling it an illegal act that would damage trust in the European banking sector. — vesti
The EU discussion on using frozen Russian assets was halted last winter due to Belgium's veto. — tvrain
Belgium risks having to return the assets if Russia takes legal action. — tg_tass_agency
Belgium blocked the initiative in December 2025 due to concerns about unilateral risk exposure. — kommerant
Belgium's Foreign Minister Maxime Prévost previously said asset use could be possible if all EU countries shared legal responsibility. — interfax

Coverage (14 sources)

In Belgium, opposition to using frozen Russian assets to support Ukraine has resurfaced — The Moscow Times
Belgian authorities will not change their position on frozen Russian assets — Интерфакс
In Belgium, new proposal by EU countries to seize Russian assets was rejected — Коммерсантъ
Russian Foreign Ministry Warns of Hague Plans to Steal Russia's Assets in Europe — Вести
Belgian Foreign Ministry says position against use of Russian assets has not changed — Вести
Question about the use of Russian assets remains on the European Union agenda — Интерфакс
EU still wants to seize Russia's frozen assets, said at the EC — Вести
Which EU countries want to use Russia's assets — Дождь
FT learned about plans of EU countries to again ask the European Commission to use Russian assets — Вести
Several EU countries still fear seizure of Russian assets, reports Euractiv. In Europe, Russian assets are currently frozen... — ТАСС (Telegram)
Euractiv: EU will not return to the topic of Russian assets for Ukraine at upcoming meetings — Коммерсантъ
Euractiv: the question of using Russian assets has not yet returned to the EU agenda — Коммерсантъ
European Union will not return to discussion of confiscation of frozen Russian assets — Вести
EU cannot yet return to discussing the use of frozen Russian assets for Ukraine, writes Eur... — РИА Новости (Telegram)

Belgium Blocks Use of Frozen Russian Assets for Ukraine

Consensus

Points of divergence

Coverage (14 sources)

Key entities

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