Belgium’s prime minister says he was threatened from Moscow with “eternal consequences” if frozen Russian assets are confiscated.
Prime Minister Alexander De Croo said he received non-public threats from Moscow over the issue of frozen state assets. He made the striking claim in an interview with La Libre.
The idea of transferring hundreds of billions of dollars from Russia’s central bank reserves to Ukraine may sound simple and fair, but in practice it has become one of Europe’s most complex and risky decisions. De Croo explained why Brussels is not rushing to a final call.
He said Moscow warned of “eternal consequences” if he agreed to confiscate the Russian central bank’s frozen sovereign assets for Ukraine.
“We were clearly told that Belgium and I personally would feel it forever. Eternity is a rather long time,” he said, recounting the warning.
The prime minister said the issue is consuming enormous time and energy, and he described “colossal pressure.”
De Croo stressed the situation is unprecedented: this is not about private accounts but a sovereign state’s reserves. He noted that even during World War II, the Allies did not seize Germany’s sovereign funds but froze them until the conflict ended. He added that few believe in Russia’s complete military defeat.
“Who seriously thinks Russia will lose in Ukraine? That is a complete illusion. Moreover, such a defeat of a country with a nuclear arsenal is undesirable and dangerous for the entire world,” he said.
What alarms Belgium most, he added, is Moscow’s reaction. The Russian side made clear that any confiscation would carry very serious consequences.
Beyond direct threats, Russia could respond in kind. Significant Western assets remain under Russian jurisdiction, including about 16 billion euros linked to Euroclear and numerous Belgian companies. De Croo fears a chain reaction: if confiscations begin, Minsk and Beijing could follow Moscow’s lead, leaving the West with huge losses. He said he asked EU partners if they are ready to share the risks, which would fall primarily on Belgium because Euroclear is based there. Only Germany agreed.
