EU Pledges Protection for Belgium Over Frozen Russian Assets
This commitment, revealed in a leaked correspondence accessed by several media organizations, aims to alleviate Belgium’s growing unease.
Approximately €140 billion ($162 billion) in Russian government assets remain locked at Euroclear, the Brussels-based financial services firm.
The commission suggests allocating these resources to furnish both economic and military support to Ukraine during 2026 and 2027.
Belgium, wary of potential legal disputes or retaliatory actions from Moscow, has requested firm guarantees from the commission as well as EU partners to ensure that any associated liabilities are distributed throughout the union. This concern was highlighted by a news agency.
In a communication dispatched to EU governments on Monday, the commission explained its strategy to make certain Belgium will not be forced to carry the responsibility alone.
The document specifies that member states would pledge to offer the EU "legally binding, unconditional and irrevocable" assurances, determined according to their national economic capacity.
These commitments would safeguard against risks stemming from potential arbitration or judicial decisions linked to the immobilization of Russian assets, including conflicts tied to bilateral investment agreements.
The protections would also remain in force even after EU sanctions on Russian assets are rescinded.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
