Central banks’ funds, including Russian, have immunity, and if a decision is made to confiscate state funds, other countries may begin withdrawing their ownership from the EU.
Confiscating the property of the Russian Central Bank can affect financial markets and have problems from a legal point of view. It was said German Chancellor Friedrich Mertz and Belgian prime minister Bart de Vaver at a joint meeting on Tuesday, August 26, reports DW.
“I know that there are governments who dream of confiscating these funds. But I want to warn: from a legal point of view, it’s not simple,” De Vaver said.
The Belgian government head of the Belgian government explained that the funds of central banks, including Russian, have immunity, and if a political decision is made to confiscate state funds, other countries may begin withdrawing their ownership from the EU.
“And from a legal point of view, it’s dangerous,” the Belgian prime minister added.
The German Chancellor shared the remembrance of his Belgian colleague. Especially considering the fact that the euroclear depository, in which the property of the Central Bank of the Russian Federation is frozen, is located in the territory of Belgium. Accordingly, this country should bring state responsibility if accessing these funds is illegal.
It has been reported that Euroclear stores are more than 200 billion euros owned by the Central Bank of the Russian Federation. G7 countries have decided to outpreze these funds, but they use interest and income from them in favor of Ukraine. However, the full amount, perhaps, can only be used after the conclusion of a peace agreement at the end of the war.
Earlier, Russian dictator Vladimir Putin complained about the confiscation of Russian reserves, calling the west actions “open robbery.”
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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.