Belgium announced $50.5 billion of frozen Russian assets

The representative of the Ministry of Finance of the kingdom said,that the frozen funds belong to 1229 citizens and 110 organizations from Russia

Since the beginning of the Russian special operation in Ukraine, Belgium has frozen about €50.5 billion belonging to individuals and companies from Russia that fell under EU sanctions , the Nieuwsblad newspaper reported, citing Francis Adins, a representative of the Kingdom's Ministry of Finance.

According to Adins, the frozen funds include all types of financial assets, including cash and shares, which are owned by 1,229 individuals and 110 organizations from Russia.

Nieuwsblad clarifies that the new data of the Ministry of Finance is several times higher than €3.5 billion, the freezing of which the ministry announced in early April.

The Accounts Chamber proposed to exclude frozen foreign exchange assets from the NWF

On July 12, European Commissioner for Justice Didier Reynders announced a freeze of €13.8 billion in assets of individuals and legal entities from Russia to the EU since the end of February. According to him, more than €12 billion came from five of the 27 European countries.

At the end of May, the European Union also reported on the freezing of assets of the Russian Central Bank in the amount of about €23 billion. The United States announced that it had blocked Russian assets for $330 billion, including about $300 billion from the Bank of Russia. The Russian Ministry of Finance estimated the total volume of gold and foreign exchange reserves frozen abroad at the same amount.

The head of the European Commission, Ursula von der Leyen, reported that the EU is looking for opportunities to use the arrested Russian assets to restore Ukraine. US President Joe Biden also proposed seizing the seized property of Russian businessmen in favor of Kiev .

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Russia has repeatedly accused Western countries of illegitimate sanctions, and President Vladimir Putin has threatened that "stealing other people's assets" will only lead to problems for those who do it. “Violation of the rules, norms in the field of international finance, trade does not lead to anything good. And to put it in simple terms, it will only lead to problems for those who do it. Theft of other people's assets has never brought good to anyone, especially those who are engaged in this unseemly deed,” the head of state said.