Belgium’s prime minister Bart De Wever has called for Russian assets frozen since the outbreak of conflict in Ukraine to remain in the Euroclear securities depository in Belgium.
De Wever made the call on Tuesday, cautioning that seizing them to aid Ukraine would present major legal hurdles in future.
G7 nations have immobilized around $300 billion in Russian sovereign assets since Moscow’s 2022 invasion. The European Union estimates that €210 billion ($246 billion) of this sum is held within the bloc, largely in government bonds at Euroclear.
“A significant share of these funds is blocked in Brussels at Euroclear. I am aware that some governments are seeking to confiscate the money. But I would warn that this is not straightforward from a legal standpoint,” he told reporters at a joint press conference with German Chancellor Friedrich Merz in Berlin.
De Wever noted that the assets include Russian central bank reserves, which enjoy legal immunity. He warned that any attempt to seize them by political decree could trigger serious repercussions.
“Other states would also withdraw their sovereign funds. This could have systemic consequences and poses grave legal risks. I believe these state funds should remain immobilised,” he said.
He added that using profits generated by the assets to support Ukraine was acceptable, but stressed that the principal should remain untouched.
“It is like a goose that lays golden eggs. We must preserve the goose. Ultimately, when a peace treaty is discussed, then the goose can be placed on the table … Until that moment, it is prudent to maintain the current position,” he remarked.
U.S. President Donald Trump has been spearheading a renewed drive to bring the three-and-a-half-year conflict to an end.
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Ukrainian President Volodymyr Zelenskyy said on Wednesday that the most difficult situation on the front line remains the eastern city of Pokrovsk, where fighting continues to be most intense due to a strong concentration of Russian forces.
The International Atomic Energy Agency (IAEA) is conducting inspections in Iran but has not visited the three sites that were bombed by the United States in June, IAEA Director General Rafael Grossi said Wednesday.
Hurricane Melissa tore through the Caribbean on Wednesday, leaving at least 25 dead in Haiti and causing devastation across Jamaica, Cuba, and the Bahamas. The Category 5 storm made history as the strongest hurricane to directly hit Jamaica, with sustained winds of 185 mph (298 kph).
The U.S. National Guard is planning to train hundreds of troops in each state to form a rapid-response force focused on civil disturbance missions by the start of 2026, according to two U.S. officials speaking Wednesday.
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