It is necessary to find a way to extend the seizure of 190 billion euros of Russian assets in the Euroclear depository in Belgium. If the sanctions are not extended, this money “will go to Russia the next day,” the sources said.
The European Union is considering options to avoid Hungary’s possible veto of extending sanctions against Russia. One way could be through Belgium’s World War II-era legislation, the Financial Times reported, citing EU officials on Friday, January 17.
European officials are reportedly trying to convince Hungarian Prime Minister Viktor Orban to extend sanctions and confiscate Russian assets. We are talking about 190 billion euros in the Euroclear depository in Belgium. If the sanctions are not extended, then this money “will go to Russia the next day,” because there is no reason to support it, a European official told the publication.
“I am really worried about this, and others should be too. There is a high chance that Orban will not be broken,” said a senior EU diplomat who regularly talks with Hungarian officials.
According to the publication, in this case, a royal decree from the Second World War (1944) can be used, which allows the Belgian King Philip I to block the transfer of frozen assets to Russia from the country.
“Belgium, together with the other EU member states, is doing everything possible to reach the agreement on the restoration of sanctions against Russia. We were able to reach the agreement in the past and we will continue to work to ensure that it is again, ” said the spokesperson of the Belgian Ministry of Foreign Affairs.
Euroclear declined to comment. The royal palace declined to say whether EU officials had approached the king, adding that responsibility for such a decree rests with the government, although the king would have to sign it.
A day before it was revealed that Hungary was sabotaging EU sanctions against Russia without US President-elect Donald Trump’s consent. The corresponding statement was made by the Hungarian Minister for European Union Affairs, Janos Bock.
As you know, the EU has approved 15 packages of sanctions against Russia and is working on a 16th package of restrictions. At the same time, the Europeans extended the existing sanctions every six months, but this requires a unanimous decision of the 27 member states.
New Correspondent.net on Telegram and WhatsApp. Subscribe to our channels Athletistic and WhatsApp
Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.