Since the beginning of the Russian invasion of Ukraine, Belgium has blocked EUR 191 billion in Russian financial transactions and frozen EUR 58 billion in assets. In total, Russia will therefore be punished for 249 billion euros. “That is by far the largest amount of all European countries,” Prime Minister Alexander De Croo announced in the Chamber.
Together with European partners, the government is studying whether the frozen Russian money can be used for the reconstruction of Ukraine. “It will not depend on a lack of political will, but it is not legally evident,” the prime minister said in the advisory committee on European affairs.
De Croo also confirmed that Belgium is working with the European Commission and international partners on a tracking system for Russian diamonds. “We want the Russian blood diamond trade to stop, but you don’t do that by saying: we will stop here in Belgium.”
“European embargo sounds easy”
“Then it goes through a different path if you cannot restrict the end markets. I also notice that there is a willingness from the sector to do that. A European embargo sounds easy, but would only shift trade to other parts of the world,” says De Croo.
Vicky Reynaert (Vooruit) pointed out that “as a country we sponsor Russia with a multiple of the amount we give to Ukraine”, but De Croo disagreed. He pointed out that most diamonds traded in Antwerp do not end up in our country, nor on the European market. “I strongly disagree with those who say that our country is co-financing the Russian war,” he stressed.
Read also: Ukraine prepares for bloodiest fighting since war began: what will be the consequences? (+)
LOOK ALSO. Everything about the war between Russia and Ukraine in pictures
Free unlimited access to Showbytes? Which can!
Log in or create an account and don’t miss a thing of the stars.
