Belgium earns 625 million euros in frozen assets of the Russian Federation – media

Belgium has frozen 250.6 billion Russian assets placed through the Euroclear international depository.

As a result of taxation of income from frozen Russian assets in 2022, Belgium received 625 million euros. This was reported by Le Soir.

It was noted that 250.6 billion Russian assets placed through the international deposit of Euroclear were frozen in Belgium.

Euroclear reinvested the money, resulting in profits of 821 million euros. The latter amount is taxed at a higher rate.

At the same time, according to the head of the Belgian Treasury, Alexander De Gest, the Belgian authorities considered 300 applications for the release of Russian assets from about a thousand submitted, in most cases issued denials, some of which have been challenged in court.

He noted that the requests come from individuals and organizations who believe they should not be subject to sanctions. For example, clients of Russian banks, which, in turn, are clients of the National Settlement Depository of Russia (against which the EU has imposed sanctions – ed.), and the assets are frozen as a result.

The guest emphasized that in order to unfreeze the funds, clients must prove that they are not under sanctions and are not acting in the interests of people under sanctions, and will not return funds to Russia .

“If we had the slightest doubt, we would not have unfrozen the funds,” he said.

Earlier it was reported that the Belgian Ministry of Finance within a year since the beginning of the full-scale Russian invasion of Ukraine, froze 58 billion euros of Russian assets of individuals and legal entities.

Earlier in Belgium, they announced the freezing of assets of the Russian Federation for 50 billion euros.

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