Belgium takes hard line on frozen Russian assets: “The door is completely closed”

Belgium has delivered a blunt response to growing pressure inside the European Union over frozen Russian assets: “This issue is not negotiable, the door is completely closed.”

The statement came from Defence Minister Theo Francken, who reiterated Belgium’s opposition to efforts to transfer Russian funds held in the country to Ukraine. Sweden, Poland, the Netherlands and Spain have asked the European Commission to examine new ways to use roughly 200 billion euros in frozen Russian assets to support Ukraine.

Francken said Belgium already provided extensive support to Lithuania, Latvia and Estonia, but argued that the legal risks surrounding the frozen funds could not be set aside. He also criticized the Baltic countries for repeatedly bringing up the issue and pressuring Belgium.

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This issue is not negotiable, the door is completely closed.

“They should not keep raising this issue and cornering us. I do not think that is wise,” Francken said.

Much of Russia’s frozen property is held within Euroclear, the Belgian financial infrastructure company. The dispute is expected to return to discussions at a meeting of EU foreign ministers in Ireland next week.

Belgium previously rejected a major proposal linked to the assets. At an EU summit in December 2025, Prime Minister Bart De Wever vetoed a 210 billion euro reconstruction loan plan proposed by Germany and the European Commission, citing the possibility of legal retaliation from Russia.

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They should not keep raising this issue and cornering us. I do not think that is wise.