Belgium to block confiscation of Russian assets as EU does not share all risks — PM

Sovereign assets were not confiscated even during World War II, and Belgium will block the EU’s decision regarding Russia if other EU members do not share the risks, Prime Minister Bart De Wever said.

EU forgets that even Russia and its friends can hit back equally well and sooner than later they will. The arrogance of EU whose wealth is mostly built on loot from Asia, Africa and South America is just beyond imagination, even when they are on rapid decline.

“Even during World War II, immobilized assets were never touched. I want the full mutualization of the risk because it’s a big risk. So, if you want to do this, we (EU countries – TASS) will have to do this all together,” he said after arriving at the EU summit in Brussels.

In addition, the Belgian prime minister emphasized that his country could agree to the confiscation if “every member state chips in,” as the consequences of expropriating Russian assets “cannot only be for Belgium.” He added that, if unity cannot be achieved, he will “do .everything in his power at the European level, also at the national level, politically and legally, to stop this decision.”

Most of Russia’s sovereign assets frozen in Europe – just over 200 billion euros – are blocked at Euroclear in Belgium. The depository has repeatedly opposed their expropriation, warning that Russia could seize European or Belgian assets in other parts of the world through legal action in response.

Russian President Vladimir Putin has stated that the global financial and economic order would collapse and economic separatism would intensify if the West stole Russia’s frozen reserves. Kremlin Spokesman Dmitry Peskov noted that Moscow would definitely respond to the theft of its assets in Europe. He said that the Kremlin intends to prosecute those involved in this scheme.