MEPs call on Belgium to confiscate €250 billion in frozen Russian assets to support Ukraine

MEPs urge Belgium to confiscate Russian assets  

Latvian politician and MEP Rihards Kols shared on X that dozens of Members of the European Parliament (MEPs) have sent an open letter to King Philippe of Belgium, calling on him to support the confiscation of over €250 billion in frozen Russian assets and channel those funds directly to Ukraine. The letter warns that continued inaction only allows Russia to benefit from Belgium’s cautious approach.  

The lawmakers emphasize Belgium’s unique responsibility, as the majority of these frozen assets are held within the Belgian-based financial institution Euroclear. They argue that these funds should be used to strengthen Ukraine’s defense capabilities and support the country’s post-war recovery.

The MEPs warn that European unity on sanctions against Russia is at risk, but Belgium could play a leading role by taking decisive action. Turning frozen Russian assets into direct support for Ukraine would send a clear message: Russia’s aggression will not be rewarded, and Ukraine’s victory remains a top European priority.

The letter was signed by prominent politicians from Germany, France, Latvia, the Czech Republic, Finland, Estonia, Croatia, Slovakia, and Ukraine. The signatories urge Belgian authorities to demonstrate that European values are not just empty rhetoric but a guiding principle for real action.

Is confiscation legally possible?  

The authors of the letter point out that international law allows the confiscation of aggressor state assets to compensate for the damage caused and to fund the reconstruction of destroyed infrastructure. They cite precedents, such as the confiscation of assets from Iraq and Libya, to justify similar action against Russian assets.

• Russia may agree to the use of its frozen assets, totaling $300 billion, for Ukraine’s reconstruction as part of a peace agreement but will insist that part of the funds be spent on the temporarily occupied territories.