US EditionBelgian PM says best to leave frozen Russian funds in Euroclear for now
Belgian and German leaders caution that seizing €210 billion in frozen Russian central bank assets could breach legal immunity and destabilize EU capital markets, while interest supports Ukraine, they said.
- On August 26, 2025, Belgian Prime Minister Bart De Wever said Russian state assets frozen should stay in the Euroclear securities repository for now, warning against outright seizure alongside German Chancellor Friedrich Merz in Berlin.
- Following Russia's 2022 invasion, Western governments froze $300 billion in Russian sovereign assets, with the European Commission estimating 210 billion euros held mainly at the Euroclear repository.
- Under the current framework, assets at Euroclear are invested conservatively with the Belgian central bank, producing low but steady returns that finance weapons and ammunition for Ukraine.
- Both leaders emphasised legal and market risks, noting De Wever warned seizing funds is legally complex and could prompt capital flight, while Merz cautioned Brussels or the Belgian state could be liable for unlawful access and market impacts.
- Looking beyond seizure debates, leaders noted the ERA mechanism channels windfall profits to Ukraine, including a recent 1.6-billion-euro tranche and plans for $50 billion in loans repaid from future profits.
13 Articles
13 Articles
Belgian PM Says Best to Leave Frozen Russian Funds in Euroclear for Now
Belgian PM says best to leave frozen Russian funds in Euroclear for now
Russian state assets frozen since the start of the Ukraine war should stay in the Euroclear securities repository in Belgium for now, the Belgian prime minister said on Tuesday, adding that seizing them to benefit Ukraine would raise legal issues.
The Kyiv Independent
einnews.com'Very dangerous from a legal perspective' — Belgian, German leaders wary of confiscating frozen Russian assets
"I know that there are governments that are trying to seize the money. But I would like to warn that this is not so easy legally," Belgian Prime Minister Bart De Wever said, warning that assets belonging to Russia's central bank hold legal immunity and the seizure likely lead to economic retaliation from other countries.
Belgian PM Advocates Patience on Russian Funds
Belgian Prime Minister Bart De Wever advised caution regarding the handling of frozen Russian funds at Euroclear, emphasizing legal complexities. He suggested waiting for peace talks between Russia and Ukraine before attempting to seize these assets, highlighting concerns during a meeting with German Chancellor Friedrich Merz in Berlin.
Coverage Details
Bias Distribution
- 36% of the sources are Center, 36% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
