Belgium will not confiscate the proceeds from the frozen assets of the aggressor country Russia and transfer them to help Ukraine. The head of the country's Ministry of Foreign Affairs, Maxim Prevot, made a statement on this matter.
Points of attention
- Belgium will provide Ukraine with security guarantees within the 'Coalition of the Determined' but has rejected transferring assets to support the country.
- The decision highlights the complexities of balancing geopolitical interests with financial considerations in international relations.
Belgium has already explained its decision
As Maxim Prevost frankly admitted, confiscation of Russian sovereign assets is not an option for his country at this time.
He also predicted that the move could jeopardize the country's reputation as a financial services center.
Moreover, according to the Foreign Minister, this decision is extremely dangerous for the European Union as a whole.
This would be a very bad signal to other countries in the world. Some of them also have assets, sovereign assets, in Brussels or elsewhere in Europe.
Maxim Prevost
Minister of Foreign Affairs of Belgium
According to the head of Belgian diplomacy, confiscation of proceeds from frozen Russian assets would also "undermine confidence in the euro."
What is important to understand is that Prevot even rejected an alternative plan to transfer assets to a separate investment fund.
Against this background, he emphasized that Brussels will join in providing security guarantees for Ukraine within the framework of the "Coalition of the Determined."
The Foreign Minister confirmed that Belgium will provide Ukraine with aircraft and help demin the territory.
