Editor’s Note
Three weeks ago, the number of assets frozen across the EU was at 13.8 billion euros. On 2 August, this number jumped after Belgium froze 50.5 billion euros in funds belonging to people or entities subject to sanctions against Russia due to its attack on Ukraine. Since 24 February 2022, due to the joint work of 8 countries participating in the Russian Elites, Proxies, and Oligarchs (REPO) Task Force, $330 billion in Russian assets were frozen, blocked, or immobilized.
Belgium freezes 50.5 billion euros in Russian funds
In Belgium, 50.5 billion euros in funds belonging to people, companies, and other legal entities that were subject to financial sanctions after the Russian invasion of Ukraine in February 2022 have been frozen.
That is a considerably higher amount than was previously known, Francis Adyns, the spokesman for the FPS Finance, confirms this today, De Morgen writes. Three weeks ago, 13.8 billion euros in assets had been frozen across the EU. Now the amount frozen by Belgium alone is considerably higher.
The funds frozen include cash and stocks located in Belgium owned by 1,229 people and 110 entities subject to sanctions against Russia—Russian politicians, oligarchs, banks, and corporations.
The latest sanction packages have added several banks to the list, such as Sberbank, the largest Russian bank, and VTB Bank, one of the largest banks in Russia with the state as the largest shareholder.