IRNA reported Belgian Foreign Minister Maxime Prévot said Belgium strongly opposes confiscating frozen Russian sovereign assets and transferring them to Ukraine, arguing the move would seriously threaten Belgium’s financial-sector reputation. Around €200bn of Western-frozen Russian assets are largely held at Euroclear in Belgium. Prévot warned that even in wartime, breaching European financial rules could structurally damage the euro’s credibility and the wider European financial system. Belgium

IRNA reported Belgian Foreign Minister Maxime Prévot said Belgium strongly opposes confiscating frozen Russian sovereign assets and transferring them to Ukraine, arguing the move would seriously threaten Belgium’s financial-sector reputation. Around €200bn of Western-frozen Russian assets are largely held at Euroclear in Belgium. Prévot warned that even in wartime, breaching European financial rules could structurally damage the euro’s credibility and the wider European financial system. Belgium reviewed a UK proposal to place the assets into an independent investment fund but judged the legal and financial risks too high and unacceptable; it will not assume those risks by itself. Prime Minister Bart De Wever said Belgium will not back any plan unless other EU member states and Ukraine backers provide full guarantees.