Russia exploits EU sanctions loophole to unfreeze assets in Belgium
Reports indicate Russia has used an EU sanctions loophole to unfreeze $3 billion in assets held by Belgium's Euroclear, with potential similar actions by Austrian banks.
Background
Following Russia's 2022 invasion of Ukraine, the EU imposed extensive sanctions, including freezing Russian state assets held in European financial institutions. These sanctions aim to pressure Russia and limit its ability to fund the war, but their implementation and potential loopholes remain a complex issue for EU member states.
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Russia exploits EU sanctions loophole to unfreeze assets in Belgium
First report 13h agoLast update 10h agoRussia is reportedly exploiting an EU sanctions loophole to unfreeze assets held by Belgian entities.
German and Finnish leaders advocate for European control over frozen Russian assets, opposing transfer to the US and suggesting use for Ukraine's support.
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