Belgium is reportedly considering a shift in its approach to frozen Russian assets, potentially softening its stance if the European Union agrees to share the associated risks. This development comes amid ongoing debate within the EU regarding the handling of frozen Russian funds, estimated to be in the billions of euros. The Belgian government is currently under pressure to release some of these assets to alleviate the economic strain on businesses affected by the sanctions imposed on Russia. However, the release of frozen assets presents a complex legal and geopolitical challenge. Concerns exist regarding potential legal challenges from Russia and the wider implications for future sanctions regimes. The EU is actively exploring mechanisms to mitigate these risks, seeking a coordinated approach that balances the need to support its own businesses with the maintenance of its strong stance against Russia. The outcome of these negotiations remains uncertain, with the Belgian government's final decision likely to hinge on the EU's ability to devise a risk-sharing framework that satisfies all member states.
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Originally published at: https://www.ft.com/content/f0ccc395-c9df-473d-8601-d7dd683cea75
