Belgium freezes €10 billion Russian assets

Belgium freezes €10 billion Russian assets
Credit: Mufid Magnum / Unsplash

Belgium’s Treasury Department has frozen some €10 billion in Russian assets in the past two weeks, according to figures from the Finance Department computed by L’Echo and De Tijd.

The amount includes €2.7 billion frozen in bank accounts and €7.3 billion in frozen transactions, Belga News Agency reports. This is a massive addition to the €25.5 million that the Treasury had frozen up to 10 days ago.

The consolidated list of targeted individuals and institutions has been made public and comprises 759 names, including those of businesspeople, politicians, top military officials, bankers and Russian President Vladimir Putin himself.

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On Wednesday, 14 oligarchs and about 150 members of the Russian parliament were added to it. This procedure is purely political and administrative and does not involve the justice department.

European companies increasingly abandon Russia

Europe has responded to Russia's invasion of Ukraine through largely economic means, including sanctions and the freezing of assets as Belgium is doing.

Multiple western businesses have also left or scaled back operations in the country in response, which weighs heavily on the Russian economy.

In response, Russia has placed Belgium and other European countries on a list of "unfriendly" nations.

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