Official Brussels is currently actively considering a scenario involving the involvement of King Philippe of Belgium to protect sanctions against Russia from Hungary's veto.
Points of attention
- Hungary is preparing to veto the extension of sanctions against Russia.
- Against this background, the European Union is actively considering various options that could hinder Orban.
- King Philippe of Belgium could play a key role in preserving anti-Russian sanctions.
Sanctions against Russia are again under threat of being lifted
According to insiders, the European Union may use an 81-year-old law involving the Belgian king to defend sanctions against Russia.
As is known, the team of Hungarian leader Viktor Orban is again threatening to veto their continuation.
For now, European leaders are trying to convince Putin's henchman to maintain sanctions against companies and Russian sovereign assets in the EU.
What is important to understand is that we are talking about about 190 billion euros of Russian state assets.
The profits generated from these assets will help repay a $50 billion loan to Ukraine, and officials believe they are a critical part of a potential ceasefire deal.
One of the anonymous sources in the EU explained: if sanctions against Russia are lifted, the money will be in Russia the very next day, because financial intermediaries will have no legal grounds to hold it.
How the King of Belgium can influence the situation
Given the fact that state assets are physically stored in a Belgian company, it is Philip who can prevent them from returning to Russia.
For now, this is a fallback option for the European Union — it involves the application of a wartime decree passed in 1944, which allows King Philippe to block the withdrawal of assets from the country.
The Royal Palace does not yet want to answer whether they have appealed to the king, adding that the responsibility for such a decree lies with the government, although it must be signed by the sovereign.
According to representatives of the Belgian Foreign Ministry, their country, together with other EU members, is doing everything possible to ensure that sanctions against Russia are not lifted.
We were able to reach an agreement in the past, and we will continue to work to make it happen this time as well,” the ministry said.
